Trump Brothers' American Bitcoin Boosts BTC Holdings to $415 Million

American Bitcoin, backed by Eric Trump and Donald Trump Jr., has acquired a total of 4,004 BTC, worth approximately $415 million, making it the 25th largest Bitcoin treasury. Between October 24 and November 5, the firm purchased 139 Bitcoins for over $14 million. The company, which went public on Nasdaq in September, aims to be a leading Bitcoin miner using an integrated approach of mining operations and market purchases. As of now, American Bitcoin's stock is trading nearly 2% higher amid a surge in Bitcoin's price, which has increased by about 3% over the past 24 hours despite being down 18% since its all-time high in October. American Bitcoin was formed through a partnership between the Trump brothers and Hut 8, which later merged with Gryphon Digital Mining. This strategy aligns with other companies, like MicroStrategy, that have significantly invested in Bitcoin to enhance their financial performance.

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