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The American Bitcoin company, backed by US President Donald Trump and his son Eric Trump, has quietly collected 215 BTC as part of its Bitcoin accumulation strategy launched in April. This amount is over $23 million according to the current market value. The accumulation in question stands out as a significant reserve that the company has not previously disclosed to the public.
American Bitcoin launched in March, and Eric Trump serves as the company's chief strategy officer.
“Our vision for American Bitcoin is to create the most investable BTC accumulation platform on the market,” Eric Trump said in a statement.
The Trump administration has vowed to make the U.S. a global leader in cryptocurrency while also announcing it would take a lighter regulatory approach, but the moves have been criticized by ethics experts and political opponents over concerns about conflicts of interest.
American Bitcoin said it considers its BTC reserves a “core strategic asset” and that it is being managed adaptively. The firm’s goal is to bolster its balance sheet strength and increase long-term shareholder value.
The company’s accumulation strategy is not a specific BTC target, but instead plans to expand its assets by increasing capital according to market conditions. The company stated that “BTC accumulation is not a byproduct of ABTC’s business; it is the business itself,” and announced that their Layer 2 strategy aims to transform Bitcoin production into long-term ownership.
*This is not investment advice.