Trump-Backed Firm Acquires Major Bitcoin Holdings, Signaling Institutional Shift

A newly formed firm backed by former President Donald Trump has purchased a significant amount of Bitcoin, potentially setting a new precedent for corporate cryptocurrency investments. American Bitcoin Corp., led by Eric Trump as Chief Strategy Officer, acquired 215 BTC valued between $23 and $24 million, marking a bold move into the cryptocurrency sector. This purchase mirrors MicroStrategy’s approach to accumulating Bitcoin, potentially influencing market dynamics.