American Bitcoin, a cryptocurrency mining company linked to the Trump family, is reportedly considering buying at least one publicly traded company in Asia to promote the purchase of Bitcoin (BTC).
According to a report by the Financial Times, American Bitcoin wants to buy the company in Japan. It aims to follow the blueprint of a strategy that has accumulated 628,946 BTC worth $73.8 billion at the time of writing.
“The ambition for American Bitcoin is to build the world’s most powerful and most efficient Bitcoin accumulation platform,” the company told the Financial Times on Friday. “We assess potential in certain regions, but we don’t make binding commitments.”
Cointelegraph contacted American Bitcoin, but was not responded at the time of publication.
https://www.youtube.com/watch?v=ry9mi57pbjs
American Bitcoin, part of the Trump family’s ever-growing tree of crypto businesses, was founded by President Donald Trump Jr. and Eric Trump, two sons. In May, the company released its public list through a merger with Gryphon Digital Mining, a crypto mining company listed on NASDAQ.
American Bitcoin has launched the Bitcoin Treasury Ministry with 215 Bitcoin as of June 10th. On June 30, the company strengthened its Treasury Department and announced a $200 million salary increase to buy Bitcoin mining equipment.
Related: American Bitcoin Ambition is to Dominate Mining – Hat8 CEO
Bitcoin finance companies continue to pile up near ATH
Bitcoin finance companies, popularized by Michael Saylor’s strategy, continue to pile up as the world’s biggest codes wobble at the highest ever.
On Monday, the strategy added 155 BTC worth $18 million to its balance sheet. The acquisition brings the original Bitcoin Treasury Company’s BTC Holdings to 628,946 BTC.
On Tuesday, Japan’s Bitcoin Treasury Metaplanet revealed it had purchased 518 BTC, bringing its holdings of 18,133 coins worth $2.1 billion.
According to bitcointreasuries.net, public companies hold approximately $114.6 billion worth of 976,132 Bitcoin, while private companies’ shares amount to 294,101 coins worth $34.5 billion worth of the writing.
Experts say the limited supply of 21 million tokens of Bitcoin is part of its appeal in a currency collapse and inflation environment.
Magazine: Bitcoin OG Willie Woo sold most of his Bitcoin – this is why
