American Bitcoin Increases BTC Holdings to 4,000 Worth $415 Million

American Bitcoin Expands Holdings

  • American Bitcoin, a Nasdaq-listed firm supported by Eric Trump and Donald Trump Jr., increased its Bitcoin holdings to 4,000 BTC, equivalent to approximately $415 million.
  • The company acquired around 170 BTC between October 24 and November 5, valued at over $14 million.
  • Eric Trump, co-founder and Chief Strategy Officer, attributed the growth to mining operations and market purchases.

American Bitcoin Image

  • American Bitcoin ranks about 25th among corporate Bitcoin holders.
  • MicroStrategy remains the largest holder with over 641,000 BTC, worth around $66 billion.

Trump Ventures See Significant Crypto Gains

  • Trump family-linked ventures reportedly gained about $1 billion in pre-tax profits from various crypto projects last year.
  • Projects include memecoins like TRUMP and MELANIA, contributing approximately $427 million, and the WLFI token with $550 million in gains.

Crypto Gains Image

  • Significant investments include $75 million from Justin Sun in WLFI and $2 billion from Abu Dhabi’s MGX fund to Binance via USD1 stablecoin.

Impact of Bitcoin Halving on Miners

  • The 2024 Bitcoin halving reduced block rewards from 6.25 BTC to 3.125 BTC, tightening profit margins for miners.
  • Some miners are exploring new revenue streams, including AI-focused services.
  • American Bitcoin's strategy combines mining with treasury accumulation, but smaller miners face economic challenges.

Trump Media Bitcoin Holdings

  • Trump Media and Technology Group holds over 11,500 BTC, valued at more than $1.3 billion, despite operational losses.
  • This concentration indicates a strategy treating Bitcoin as a reserve asset and a core business component.

Bitcoin is currently trading at $102,175, up 0.3% over 24 hours, which is 15% below its all-time high of $126,000 reached in early October.