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Trump Family-Backed American Bitcoin Has Scooped Up $23 Million Worth Of Bitcoin
- American Bitcoin, backed by the Trump family, has acquired 215 BTC worth $23.6 million since April.
- The company disclosed its Bitcoin holdings in a recent SEC filing, amid the current BTC price of $109,605.
- American Bitcoin is a newly formed entity through a merger between American Data Center, Hut 8, and the Trump family.
- The Trump brothers own 20% of American Bitcoin, while Hut 8 holds the remaining 80%.
- American Bitcoin plans to go public via a stock-for-stock merger with Gryphon Digital Mining and trade on Nasdaq under the symbol ABTC.
- The company views Bitcoin as a core strategic asset for enhancing long-term shareholder value.
- Its accumulation strategy is not fixed, intending to assess market conditions continuously to increase its BTC holdings.
- American Bitcoin is part of the trend where public and private companies are adding Bitcoin to their corporate treasuries.
- Trump Media, GameStop, Paris Saint-Germain, alongside others, have either announced or advanced their Bitcoin treasuries.
- While separate from the Trump Organization, American Bitcoin might collaborate with the DeFi platform World Liberty Financial launched by Trump's sons.
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