American Bitcoin, backed by Donald Trump Jr. and Eric Trump, aims to acquire companies in Asia as part of a broader strategy to increase Bitcoin holdings.
Plans for Expansion in Asia
The company has begun discussions with investors about acquiring a public company in Japan and possibly one in Hong Kong to expand its crypto reserves, mirroring Michael Saylor’s strategy. American Bitcoin intends to use existing public companies overseas as legal shells to hold Bitcoin, allowing local market traders to indirectly invest in the coin by buying shares, similar to the approach used by Strategy, which stockpiled around 629,000 BTC.
Company History and Upcoming Public Listing
American Bitcoin was formerly known as American Data Centers (ADC) and is a subsidiary of Dominari, a fintech and securities firm headquartered in Trump Tower in New York. In March, the company rebranded after entering a joint venture with Hut 8, another Bitcoin miner. American Bitcoin plans to go public in the U.S. by merging with Gryphon Digital Mining, which is already listed on Nasdaq.
Financial Successes and Other Trump Family Initiatives
Recently, Dominari Holdings reported a 520% year-on-year increase in revenue, though the figures were unaudited. This indicates significant cash flow within the crypto space linked to the Trump family. Additionally, World Liberty Financial, associated with Donald Trump, announced a deal to buy $1.5 billion worth of its own tokens, while Trump Media & Technology Group plans to raise $2.5 billion to build its own cryptocurrency treasury.
American Bitcoin's expansion into Asian markets highlights the growing interest and potential for crypto investments in the region, as well as the significance of its shareholders, including Donald Trump Jr. and Eric Trump.
