American Bitcoin Targets Strategic Acquisitions in Asia’s Crypto Markets
American Bitcoin, backed by Eric Trump and Donald Trump Jr., is considering strategic acquisitions in Asia, specifically targeting Japan and Hong Kong. The firm aims to expand its operations through listed companies amid a growing integration of Decentralized Finance (DeFi) with Traditional Finance (TradFi).
Japanese and Hong Kong Developments
- American Bitcoin plans to explore acquisition opportunities in Japan and Hong Kong.
- Both regions are characterized by regulated markets.
- The Hong Kong SFC released strict custody regulations for virtual asset trading platforms to enhance user protection.
- Hong Kong's Legislative Council passed the Stablecoins Bill, allowing institutions to apply for stablecoin issuance licenses.
- Over forty companies are set to apply for these licenses.
- Japan's Financial Services Agency introduced reforms, including a reduced 20% tax on crypto gains.
Bitcoin Price Movement
- Bitcoin reached a new all-time high of $124,457 following positive US inflation data.
- The Consumer Price Index increased 2.7% year-over-year, influencing market sentiment positively.
- 99% of Bitcoin's supply was reported to be in profit, indicating strong holder confidence.
- Market analysts anticipate Bitcoin may cross the $126,000 mark, which could lead to further price increases.
- Currently, Bitcoin trades at $118,784.91 after a 0.51% decline in the last 24 hours.