The Trump Family Supports Mining Company American Bitcoin's Plan to Establish Bitcoin Treasury by Acquiring Company in Asia

BlockBeats News, August 16th. According to the Financial Times, a U.S. cryptocurrency mining company supported by former President Trump's sons Donald Trump Jr. and Eric Trump is seeking acquisition targets in Asia to build a Bitcoin asset reserve. The company, named American Bitcoin, has initiated discussions with investors regarding potential acquisitions. It is currently planning to acquire a publicly listed company in Japan and may simultaneously enter the Hong Kong market.

Three sources familiar with the matter stated that the company intends to replicate the MicroStrategy model by acquiring a publicly traded company to establish a cryptocurrency reserve platform. The Trump family has recently made a significant move into the crypto space, driving up the price of Bitcoin amid a warming regulatory environment and giving rise to a wave of "crypto treasury companies" that raise funds through stock or bond offerings to purchase tokens.