A new cryptocurrency project linked to the family of U.S. President Donald Trump has successfully raised a massive $220 million, aimed at investing in purchasing Bitcoin and equipment for mining digital assets. This development comes at a time when attempts to integrate cryptocurrencies into publicly traded entities are increasing, strengthening the presence of "Bitcoin" in traditional financial markets.
The company known as "American Bitcoin," whose project is directly supported by Eric Trump, the son of the U.S. president, issued new shares last Friday and offered them to private sector investors. This step is part of a broader strategy aimed at expanding the company's investments in cryptocurrencies and enhancing its ability to mine digital assets, especially "Bitcoin."
According to an official disclosure submitted on Monday by HAT8 Corp, the majority owner of "American Bitcoin," a portion of these shares, amounting to $10 million, was sold in a notable manner by exchanging U.S. dollars for "Bitcoin," reflecting a new trend in funding and investment models in this sector.
"American Bitcoin" aims to be among the leading institutional players working to integrate "Bitcoin" into the public markets ecosystem. The company originated from a new unit within an investment bank that has close advisory ties with President Trump, giving the project both a political and economic dimension.
HAT8 has reported that it transferred mining equipment owned by them to "American Bitcoin" as part of a partnership agreement, obtaining a substantial 80% stake in the emerging project, which indicates strategic confidence in the future of this entity within the cryptocurrency market.
This large funding and new investment direction reflect a rising institutional interest in "Bitcoin," particularly from entities connected to prominent political figures, which could help expand the adoption of digital assets in the American market in the coming period.
