Trump Family Denies Bitcoin Purchase Claims, Focuses on Mining and Accumulation

The Trump family has refuted claims of purchasing 1,414 bitcoins worth $163 million, stating that they are instead involved in mining operations through their company, American Bitcoin. They acknowledge involvement in the crypto space but emphasize focusing on mining for asset accumulation rather than a single large purchase. This strategy aligns with Microstrategy’s approach to using Bitcoin as part of treasury holdings. Despite the initial market impact caused by these claims, no direct market reactions have been observed due to lack of credible evidence supporting the transaction.