Supported by American Bitcoin and Bitcoin mining companies Donald Jr. and Eric Trump have accumulated 215 Bitcoins since their April debut, according to recent disclosures from the company to the Securities and Exchange Commission.
In an application dated June 6, the digital asset mining company revealed that as of May 31, 215 Bitcoins are in the reserve.
The token is worth $23.7 million based on current prices. Bitcoin was recently traded for $110,300, according to the same data provider Coingecko's data show.
“ABTC considers its reserves as a core strategic asset and manages them adaptively to support the strength of its balance sheet to increase long-term shareholder value,” American Bitcoin wrote in the filing. “Bitcoin accumulation is not a side effect of ABTC's business. It's business.”
American Bitcoin said in its filing it aims to continue accumulating the world's oldest cryptocurrency based on a continuous assessment of market conditions.
The company's play to grow Bitcoin Holdings has been popularized by Michael Sayler's software company strategy, which began accumulating assets in 2020, as public and private companies began to add tokens to their balance sheets.
Over 100 public companies (most of which have no previous relationships with the cryptocurrency industry, but have established the Bitcoin-based Ministry of Corporate Treasury as its publication time; According to data From bitcointreasuries.net.
The American Bitcoin strategy-inspired token acquisition will also come about a month after the company announces plans to go public Through Merger with Griffon Digital Mining. The deal is expected to close as early as the third quarter of this year.
The company is one of several companies that make up the first family's vast digital assets empire.
President Donald Trump's eldest son launched a decentralized financial platform called World Liberty FI at the end of last year. Meanwhile, Donald Trump Jr. will oversee Trump Media and Technology Group, a digital media company that announced its partnership with digital asset exchange last spring. crypto.com In Introducing crypto and energy-based ETFs. Meanwhile, the Trump Suns spoke at several crypto industry events, including the Bitcoin 2025 conference held in Las Vegas, Nevada over the past few months.
The first family's aggravation with the cryptocurrency industry portrays criticism from industry experts, policymakers and the general public, with critics claiming that Trump is using the US presidency to enrich himself.
Edited by James Rubin
