Trump-Backed American Bitcoin Raises Treasury to 4,004 BTC
American Bitcoin, a Miami-based Bitcoin mining and treasury firm backed by Eric Trump and Donald Trump Jr., initially acquired 1,414 BTC for $163 million and subsequently purchased 139 BTC worth $14 million between October 24 and November 5. Its treasury now totals 4,004 BTC, valued at about $415 million and ranking 25th largest worldwide. Formed through a merger with Hut 8, the company has boosted its Bitcoin-per-share ratio by 3.4% to 432 via scaled mining operations and disciplined at-market buys, including BTC pledged under a Bitmain miner agreement. Since debuting on Nasdaq in September, shares jumped over 16% on day one, reflecting robust investor demand for its Bitcoin strategy. The Trump family’s increased crypto involvement, highlighted by President Trump’s pardon of Binance CEO Changpeng Zhao, has prompted political scrutiny over potential conflicts of interest.
Bullish
American Bitcoin’s continued accumulation of Bitcoin, including a $163 million purchase of 1,414 BTC and a subsequent $14 million buy of 139 BTC, signals robust institutional demand. Its transparent at-market buying strategy and rising Bitcoin-per-share metric support market liquidity and price floors. Debuting on Nasdaq and drawing investor interest, the firm’s actions could encourage other institutions to follow suit, boosting short-term buying pressure. Over the long term, growing treasuries by publicly listed firms may tighten supply and underpin higher Bitcoin prices. These factors collectively point to a bullish outlook for BTC.