Trump-Backed American Bitcoin Goes on Asian Shopping Spree for Strategic BTC Buys
Bitcoin's political power play hits overdrive as US-backed players target Asia's crypto crown jewels.
Strategic acquisitions or desperation moves? The line gets blurry when Washington meets Web3.
American Bitcoin—now sporting Trump's golden stamp—is hunting Asian crypto firms like a bull chasing red cloth. No numbers disclosed (classic crypto opacity), but the message is clear: Uncle Sam wants a piece of the East's digital gold rush.
Meanwhile, traditional finance bros still can't decide if BTC is an inflation hedge or a speculative toy. Place your bets.
The firm’s goal coincides with that of other companies exploring the crypto treasury reserve approach. These companies focus on assets beyond Bitcoin, including Ethereum (ETH), Binance Coin (BNB), and TRON, among others.
These firms sell shares or debt to fund their purchases of digital assets, allowing investors to gain exposure to cryptocurrency prices without directly owning the tokens. This method has appealed to many traders, particularly in a newly favorable regulatory environment for digital assets in the US.
Trump Family Strengthens Crypto Presence
The company is preparing to go public in September via a reverse merger with Gryphon Digital Mining, which is already listed on Nasdaq under the ticker name GRYP.
Eric TRUMP serves as the co-founder and chief strategy officer of American Bitcoin, a rebranded entity that evolved from American Data Centers (ADC), previously a subsidiary of Dominari Holdings.
American Bitcoin recently disclosed its goal of creating an efficient platform for Bitcoin accumulation, emphasizing active treasury management and long-term value creation for shareholders. The company noted that while it is exploring opportunities in specific regions, no binding commitments have yet been made.
The Asian market, particularly Hong Kong, has been making significant efforts to become a hub for digital assets. Establishing treasury companies in these regions could generate new demand for cryptocurrencies, which aligns with American Bitcoin’s vision.
In addition to American Bitcoin, the Trump family has diversified its crypto ventures. President Donald Trump recently reported earnings of $57 million from his involvement with World Liberty Financial, which announced plans to acquire $1.5 billion worth of its own WLFI tokens.
Meanwhile, the Trump Media & Technology Group (TMTG) intends to raise funds for a “Bitcoin treasury,” highlighting the family’s ongoing commitment to the cryptocurrency space.
As of this writing, American Bitcoin holds 1,941 BTC, currently valued at approximately $227 million. Bitcoin is currently trading at $117,270, having retraced 5% from its record high of $124,100 earlier this week.
Featured image from DALL-E, chart from TradingView.com
