American Bitcoin, a cryptocurrency-focused firm with close ties to the Trump family, has announced a substantial increase in its Bitcoin holdings, acquiring 1,414 BTC for around $163 million. This move boosts its total Bitcoin reserve to 3,865 coins, valued at nearly $445 million, highlighting its active growth trajectory amid rising market interest in digital assets.
The firm’s surge in assets coincides with its recent Nasdaq listing, which took place in early September through a merger with Gryphon Digital Mining, a publicly traded Bitcoin mining company based in Las Vegas. Despite a tumultuous debut — with the stock surging 85% in a single day but experiencing five trading halts due to volatility — the company’s entry into the exchange marks a significant milestone for a crypto-related enterprise with political roots.
The company’s listing was preceded by a 230% rise in Gryphon’s stock price, reflecting strong investor interest and optimism ahead of the merger. Director Eric Trump has emphasized the importance of increasing the Bitcoin per share ratio, viewing it as a key metric of shareholder value. This focus aligns with broader institutional strategies to back shares with significant digital assets, boosting confidence in the company’s long-term vision.
Political Ties and Growing Scrutiny
While American Bitcoin has made strides in the crypto sector, its political affiliations have sparked controversy. The firm’s association with the Trump family, along with former President Trump’s recent pardon of Binance founder Changpeng Zhao (“CZ”) — who admitted to violations of U.S. anti-money laundering laws — has reignited discussions about potential conflicts of interest and the influence of politics on crypto policy.
U.S. Representative Maxine Waters criticized the pardon, calling it an “appalling and unsurprising” move representative of the Trump presidency. She accused Trump of using his office for personal gain and doing favors for crypto figures, fueling ongoing debates over the need for clearer regulation in the rapidly evolving blockchain and digital asset markets.
Amid these developments, Trump’s personal wealth has reportedly surged, with his family openly acknowledging a decade-long increase driven by their engagement in digital assets. Eric Trump recently hinted that the profits from their crypto ventures could surpass the $1 billion mark, underscoring the significant financial stakes involved in this intersection of politics and cryptocurrency.