American Bitcoin, a U.S. cryptocurrency mining company backed by Donald Trump Jr. and Eric Trump, is reportedly looking to acquire Asian companies to bolster its Bitcoin reserves.
American Bitcoin Eyes Public Firm Buys in Japan, Hong Kong
American Bitcoin is actively seeking to purchase a listed company in Japan and potentially in Hong Kong, according to sources familiar with the matter, reported The Financial Times. The company seeks to replicate Michael Saylor‘s MicroStrategy (NASDAQ:MSTR), which has achieved a substantial market value increase while maintaining large Bitcoin (CRYPTO: BTC) holdings.
Unlike Strategy, American Bitcoin already generates new Bitcoin through the process called “mining.”
American Bitcoin, already building its own “strategic” Bitcoin reserve, is reaching out to investors to explore potential acquisitions. The Trump family’s recent foray into the crypto space has led to a surge in Bitcoin prices and the emergence of “crypto treasury companies,” which use funds from share or debt …