American Bitcoin is reportedly exploring acquisitions in Japan and Hong Kong to expand its Bitcoin stockpile.
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American Bitcoin, a cryptocurrency mining company linked to the Trump family, is reportedly looking to acquire at least one publicly listed company in Asia to further its Bitcoin () purchases.
to a Financial Times report, American Bitcoin wants to buy a company in Japan and potentially another in Hong Kong. It aims to follow the blueprint of Strategy, which to date has 628,946 BTC worth $73.8 billion at this writing.
American Bitcoin’s “ambition is to build the strongest and most efficient Bitcoin accumulation platform in the world,” the company told the Financial Times on Friday. “While we are evaluating possibilities in certain regions, we have not made any binding commitments.”
Cointelegraph contacted American Bitcoin but had not received a response at time of publication.
Part of an ever-growing tree of Trump family crypto businesses, American Bitcoin was founded by two of US President Donald Trump’s sons, Donald Trump, Jr. and Eric Trump. In May, the company announced its , a crypto mining company listed on the Nasdaq.
American Bitcoin has started a Bitcoin treasury, with as of June 10. On June 30, the company announced to bolster its treasury and buy more Bitcoin mining equipment.
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Popularized by Michael Saylor’s Strategy, Bitcoin treasury companies have kept stacking amid the world’s largest crypto’s teetering around an all-time high.
On Monday, Strategy to its balance sheet. The acquisition brought the original Bitcoin treasury company’s BTC holdings to 628,946 BTC.
On Tuesday, Japanese Bitcoin treasury company Metaplanet revealed that , bringing its holdings to 18,133 coins worth $2.1 billion.
According to BitcoinTreasuries.NET, publicly traded companies hold 976,132 Bitcoin worth approximately $114.6 billion, while private companies’ stakes stand at 294,101 coins worth $34.5 billion at this writing.
According to experts, Bitcoin’s limited supply of 21 million tokens is part of its appeal in a currency debasement and inflationary environment.
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