The Trump family is making waves in the cryptocurrency industry with a fresh investment in Bitcoin mining. Eric Trump and Donald Trump Jr. have reportedly inked a deal with Hut 8, a Miami-based Bitcoin mining company, acquiring a 20% stake in its newly launched subsidiary, American Bitcoin. The parent company, Hut 8, retains the majority stake of 80%.
📈 American Bitcoin: A New Strategic Move
Hut 8 announced on Monday that it is launching American Bitcoin as a majority-owned subsidiary focused on:
- Bitcoin Mining
- Strategic Bitcoin Reserve Development
According to Axios, Eric Trump, designated as the co-founder of American Bitcoin, will also serve as the company’s Chief Strategy Officer. This new investment is seen as part of a broader strategy by the Trump family to delve deeper into the cryptocurrency space.
💼 Trump Family’s Cryptocurrency Ventures
The Trump family’s involvement in crypto is not new. Their investment in American Bitcoin marks their third major cryptocurrency venture since President Donald Trump announced a strategic pivot toward digital currencies ahead of the November US election.
- World Liberty Financial:
- Launched during the presidential campaign trail.
- Recently announced plans to introduce a stablecoin despite ongoing regulatory debates in US Congress.
- Meme Coins:
- President Trump and First Lady Melania Trump launched meme coins ahead of the Republican president’s inauguration.
- Axios reported that Donald Trump’s coin will have more supply released in the coming months.
- American Bitcoin:
- Focused exclusively on Bitcoin mining and strategic reserves.
- Eric Trump serving as Chief Strategy Officer.
The Trump family and Hut 8 aim to create the world’s largest miner of digital currency via American Bitcoin venture, and plans to build its own “bitcoin reserve”.
🌐 What’s Next for Trump’s Crypto Push?
The Trump family’s latest investment shows their increasing interest in the cryptocurrency space, particularly with Bitcoin mining. As American Bitcoin begins operations, experts predict that this move could reshape how high-profile figures and political families approach cryptocurrency investments.
With World Liberty Financial’s stablecoin project still navigating regulatory hurdles, the Trump family’s crypto portfolio continues to diversify, indicating their commitment to making digital currency a central part of their financial strategy.
