A US cryptocurrency miner backed by Donald Trump Jr., Mr. Trump's eldest son, and Eric Trump, his second son, is scouting Asia for acquisitions to build up a reserve of bitcoin assets, the Financial Times reported, citing people familiar with the matter. The company, American Bitcoin, has approached investors about potential acquisitions and is planning to acquire a listed company in Japan and possibly Hong Kong.
Three people familiar with the matter said the company intends to follow the MicroStrategy model and build a cryptocurrency reserve platform by acquiring public companies. The Trump family's recent foray into crypto has sent the price of bitcoin soaring amid warmer regulatory environments and spawned a group of "crypto treasury companies" that buy tokens through the issuance of shares or bond proceeds raised.
The Trump family supports mining company American Bitcoin to establish a bitcoin treasury in Asian acquisition companies
2025-08-16 03:29:43
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