Trump-Backed Bitcoin Miner American Bitcoin Discloses 215 BTC Holdings, Plans Strategic Accumulation

American Bitcoin, a mining company with connections to the Trump family, has revealed its holdings of 215 BTC, valued at approximately $23 million as of early June 2025. The firm, which commenced operations in April 2025, aims to accumulate Bitcoin as a core part of its strategic reserve, leveraging its ability to mine at costs below prevailing market rates. Operating over 60,000 miners through Hut 8 facilities, American Bitcoin is set to merge with Gryphon Digital Mining and will trade under the ticker ABTC on Nasdaq. This move underscores the growing institutional interest in Bitcoin as a reserve asset, particularly among firms with significant political and financial backing. The company's strategy highlights the increasing convergence of traditional finance and cryptocurrency, with Bitcoin continuing to solidify its position as a cornerstone of digital asset portfolios.

Trump-Backed Bitcoin Miner Reveals 215 BTC Holdings Since April

American Bitcoin, a mining firm with ties to the Trump family, disclosed holdings of 215 BTC worth $23 million as of early June. The company began operations in April 2025 and plans to accumulate bitcoin as a core strategic reserve, mining at costs below market rates.

The firm operates over 60,000 miners through Hut 8 facilities and will merge with Gryphon Digital Mining to trade as ABTC on Nasdaq. Its BTC reserves are custodied with Coinbase, reflecting institutional-grade storage practices.

This MOVE signals growing institutional interest in Bitcoin as a treasury asset, with politically connected entities now entering the mining sector. The SEC filing underscores Bitcoin's transition from speculative asset to balance sheet strategy for corporations.

Bitcoin Surges Past $110K as Institutional Demand Intensifies

Bitcoin rallied over 4% to $110,150, nearing its May 22 peak of $112,000, as public companies expanded treasury allocations to the cryptocurrency. The move reflects deepening institutional conviction, with U.S.-China trade talks in the UK further buoying market sentiment.

Cryptocurrency-linked equities mirrored the uptrend. Circle Internet Financial (CRCL), issuer of USDC, gained 7% during regular trading before adding another 2.2% after hours. Mining firms Core Scientific (CORZ) and CleanSpark (CLSK) advanced 4.27% and 3.8% respectively, extending gains in post-market sessions.

The resurgence comes amid broadening adoption signals. Corporate balance sheets increasingly treat Bitcoin as a strategic reserve asset—a trend accelerating since MicroStrategy's pioneering 2020 allocation. Market technicians note the $110K breach establishes a new support level for potential upward momentum.

Connecticut Bans State Investments in Bitcoin and Virtual Currencies

Connecticut has enacted HB7082, a sweeping legislation that prohibits state and local governments from investing in Bitcoin or any other VIRTUAL currencies. The law, titled "An Act Concerning the Regulation of Virtual Currency and State Investments," marks a stark contrast to the growing trend of states embracing crypto assets as part of their treasury strategies.

The bill introduces rigorous compliance measures for crypto businesses operating within the state, including mandatory parental consent verification for users under 18 and strict anti-money laundering (AML) protocols. This regulatory clampdown arrives as multiple U.S. states explore Strategic Bitcoin Reserves (SBR), positioning Connecticut as an outlier in the national crypto policy landscape.

Bakkt Approves Digital Asset Allocations in New Treasury Strategy

Bakkt Holdings has formally updated its corporate investment policy to include Bitcoin and other leading cryptocurrencies. The move, approved by the company's Board of Directors, aligns with its long-term strategic objectives in the digital asset space.

The firm will allocate a portion of its treasury to BTC and other top-tier digital assets, signaling institutional confidence in their long-term value. These acquisitions will be funded through excess cash and potential future financing, though no purchases have been executed under the new policy yet.

Bakkt's decision reflects a broader shift in corporate treasury management toward digital finance. The timing and scale of investments will depend on market conditions, capital market response, and overall business performance.

BlackRock’s $70B Bitcoin ETF Shatters Growth Records, Signaling Institutional Adoption

BlackRock's iShares Bitcoin Trust (IBIT) has rewritten the rulebook for ETF growth, amassing $70 billion in assets under management in just 341 days—five times faster than previous records. The fund now holds 661,457 BTC, making it the largest institutional Bitcoin position globally.

Since January 2025, IBIT has attracted over $6 billion in inflows, demonstrating unprecedented demand from institutional investors. This explosive growth eclipses traditional benchmarks—the SPDR Gold Shares ETF (GLD) took 1,691 days to achieve comparable traction.

The success underscores Bitcoin's maturation as an institutional asset class. BlackRock's operational expertise and the ETF's regulated structure have provided a gateway for both institutional and retail investors to gain crypto exposure without direct custody risks.

Bitcoin Holds Near $110K as Market Awaits Inflation Data and Fed Signals

Bitcoin stabilized around $110,000 as traders braced for pivotal U.S. inflation figures that could shape Federal Reserve policy. The cryptocurrency hovered just below its May all-time high of $111,814, reflecting sustained institutional demand and cautious market positioning.

Wednesday's Consumer Price Index report looms large, with economists forecasting a 0.3% monthly rise in CORE inflation and 2.4% annual headline inflation. The data could either cement or disrupt current market expectations, which favor a 61% probability of September rate cuts according to Fed funds futures.

Market resilience persists despite inflationary crosscurrents. Bitcoin's 4.2% weekly gain demonstrates its growing role as a macroeconomic hedge, with price action increasingly correlated to traditional risk assets during periods of monetary policy uncertainty.