It was a warm afternoon in Las Vegas back at the end of May 2025. Vice President JD Vance’s keynote opened Bitcoin 2025 earlier in the day. By half past one the audience had warmed up sufficiently to hear from a line-up of speakers representing American Bitcoin, or ABTC, on the Nakamoto Stage.
Eric Trump, Donald Trump Jr., Mike Ho, and Matt Prusak shared the stage to discuss “Bitcoin as a public asset: The rise of new Bitcoin business models.” It was an important moment in the history of American Bitcoin.
American Bitcoin was formed through the strategic contribution of substantially all of Hut 8’s ASIC fleet into a new venture led by Eric Trump and Donald Trump Jr. That venture was subsequently renamed and relaunched as American Bitcoin, which today operates as a majority-owned subsidiary of Hut 8 and trades on Nasdaq under the ticker ABTC.
Donald Trump Jr. is listed on the company’s site (ABTC) as a stockholder, Eric Trump as a co-founder and chief strategy officer, Mike Ho is the chief executive officer, and Matt Prusak is the president and interim CFO. These are the roles that Mike and Matt have today, however, until the launch of ABTC on Nasdaq in September, Matt had filled the role of chief executive officer.
While visiting Austin, Texas, we managed to meet with Matt and discuss the launch and stock listing of American Bitcoin.
Leading Bitcoin Accumulation: Why American Bitcoin Stands Out
Hut 8 debuted on the TSX Venture Exchange in Toronto in February 2018. It was the first pure Bitcoin mining company to offer its shares to the public. A few years later, in 2021, Hut 8 merged with US Bitcoin where Matt Prusak served as chief commercial officer from 2021 to January 2024. After a short stint supporting the launch of another Bitcoin miner, this time Ionic, Matt joined American Bitcoin as chief executive officer in early 2025. Reuniting with some of his colleagues from Hut 8 in his new role.
His experience within the industry is significant. But his vision now is to grow American Bitcoin into a category leader, whilst providing an accumulation-as-a-service product for those institutions and organizations who are looking to strengthen their positions in Bitcoin.
“Every day Americans want exposure to Bitcoin,” Matt shared. It’s not just Tesla, Block and potentially Strategy (formerly MicroStrategy) that are leading companies with substantial Bitcoin holdings. Both individual states in the U.S., like Arizona or New Hampshire, as well as sovereign states like El Salvador are using Bitcoin to strengthen their positions or as the national currency.
American Bitcoin’s Strategy: Prioritizing Accumulation
Accumulating Bitcoin isn’t as easy to do as it might seem. There is no yield from Bitcoin like you can expect with Solana or ETH. And this was one of the areas that Matt was keen to elaborate on with me.
“American Bitcoin as an entity, launched April 1 of this year,” Matt explained. It was a carve out of the Hut 8 mining assets coupled with the Trump brothers’ commitment to the advancement of decentralized financial systems, commercial acumen, and “dynamism.”
Matt added how all parties agreed together with the idea of building a pure play American Bitcoin brand. “Not just a miner, and not just a treasury, but an accumulator.”
Bitcoin ETFs vs. Accumulation: American Bitcoin’s Unique Model
BlackRock, Grayscale and others are offering Bitcoin ETFs to investors today. Matt explained why American Bitcoin was looking at creating a leaner and high torque business rather than replicate what BlackRock and others were doing.
“Bitcoin ETFs are for companies with deep pockets and large balance sheets,” Matt explained. American Bitcoin isn’t going to replicate any existing model. Matt’s experience at Bain & Co. has taught him the strategy of “where to plan, how to win,” and he sees opportunity in accumulating Bitcoin, not trading ETFs. Using a much leaner team to do this but maximizing returns for investors at the same time. All this while increasing the underlying Bitcoin holding.
“When you first get into Bitcoin,” Matt shared. “The next step is to think, ‘how can I get more of this stuff?’” This is the market that American Bitcoin wants to capture. The market that wants more than just hodling with an exchange or buying shares in Bitcoin mining companies.
Matt shared how the logical place to start the accumulation discussion was with Bitcoin mining. But without the transformers and the substations.
Bitcoin Accumulation as a Service: American Bitcoin’s Three Layers
American Bitcoin is made up of three layers, Matt elaborated. Layer one is Bitcoin mining, layer two is capital markets and treasury, while layer three is ecosystem amplification. To help the company maximize these three layers the leadership team at American Bitcoin has changed. Now the firm has launched on the Nasdaq, CEO Mike Ho is focused on the firm’s capital markets strategy whilst Matt is driving forward the third layer of the business.
Mike comes from the layer three world of DeFi and the digital assets ecosystem. He is very receptive to ideas emanating from the space. Additionally, the ecosystem for Matt is about consumer services, payments and more. He is also very open to innovations around using Bitcoin NFT minting. Additionally, we discussed Bitcoin’s BRC-20 upgrade and the Lightning Network.
“I want to make sure that American Bitcoin is helping that ecosystem thrive,” Matt emphasized. “Because, when it thrives, transaction fee volume will go up, which lowers the reliance on mining returns and adds more focus onto transactions and the related fees.”
Matt shared how Satoshi thought of the role of the ecosystem in the development of Bitcoin. Matt highlighted how, if Bitcoin is to thrive it can’t just be a store of value, it needs to maintain a real-world use. He sees transaction fees as an opportunity to continue leveraging Bitcoin’s value now and in the future when the full 21 million Bitcoins have been mined. He believes that the underlying liquidity in the value of transactions can be utilized to support the ecosystem. Satoshi didn’t dream of a digital vault; he dreamed of a currency that moves. Matt agrees.
“Bitcoin cannot be a dead asset class,” Matt added. “American Bitcoin will do its part to ensure this.”
Dominating Bitcoin Accumulation: American Bitcoin’s Vision
Talk turned to the individual business lines that have evolved so far in the Bitcoin space. A lot of work has already gone into companies becoming category leaders of Bitcoin mining or leading as Bitcoin treasury companies like Strategy. The same could apply to organizations who custody Bitcoin, there is a category leader there – Coinbase.
Matt’s vision for American Bitcoin is to become a macro accumulator and become category leader in this area. This means that with American Bitcoin you would have more Bitcoin at the end of each day then what you started with. This is where the concept of ‘Bitcoin per Share’ or BPS comes in.
BPS is the amount of Bitcoin that each share of the company’s stock represents. Today, this amount is static each day unless additional acquisitions of Bitcoin are made by the relevant institution or organization. Accumulation is the next natural step to improve BPS. Matt refers to this accumulation of Bitcoin as “Bitcoining”. When Bitcoin isn’t just a noun, but a verb too. Something that is constantly moving and not standing still.
Spearheading Bitcoin Accumulation
Strategy and others have done a lot of work educating the market on the benefits of hodling Bitcoin. Matt is hoping that American Bitcoin can benefit from this while continuing the legacy through offering Bitcoin accumulation. He believes that American Bitcoin has all the ingredients to become a category leader. It would have a structural discount for the market via mining. It has all the capital markets tools and strategy. A very lean business with no additional services like Tesla or Strategy.
To make it different you would have that layer three. The future of the Bitcoin ecosystem that was mentioned earlier. This is what Matt was engaged to help American Bitcoin achieve. And this is where his focus is now.
Building Fortress Balance Sheets with Bitcoin Accumulation
What Matt shared was intriguing. It offers companies, institutions and governments the opportunity to have Bitcoin in their portfolio whilst growing the underlying asset. It allows them to maintain a fortress balance sheet whilst increasing their exposure to an asset class that has showed huge returns and promise over the last decade.
He added how Bitcoin today can offer investors a ‘safe haven’, much like the Japanese Yen has done in the past. He sees in the way that investors in India have embraced crypto assets, a huge opportunity for other savvy investors to benefit from Bitcoin. Bitcoin is a premium asset, Matt shared pointing to how central banks are also more increasingly exploring ways to increase their exposure to the digital asset.
Bitcoin as a Safe Haven: Accumulation Beyond Gold
As investors move away from U.S. treasuries, the popularity of Bitcoin has risen. Gold, a traditional ‘safe haven’ for investors, has shown impressive growth over the last year. However, as Matt pointed out, few companies are buying into a gold standard like we are seeing Strategy with Bitcoin.
There are 450 Bitcoins generated each day, at least until the next Bitcoin halving. Each time the cryptocurrency has halved, the price of Bitcoin has gone up to encourage the continued mining of the digital asset. After the next halving the number of Bitcoins that are generated daily will diminish by about 50 percent. There is an opportunity to generate more value from the transaction fees that can be used to invigorate the ecosystem. Matt will be developing how these transaction fees could be used to generate yield on top of your Bitcoin holding.
Then, Bitcoin won’t just be a hedge like gold. It will become a functional asset that grows over time. Not just because the value of Bitcoin grows, but because the ecosystem helps to generate more novel ways to increase everyday Bitcoin exposure.
Investing in American Bitcoin: Bold Accumulation Strategies
Jim Cramer, the renowned financial commentator, believes that American Bitcoin can form a part of your portfolio. He doesn’t fully recommend it, like he does Nvidia stock, but he does think it’s worth considering. He calls it a “spec” and shared that you can have one spec in your portfolio, and it might as well be American Bitcoin. “Very inexpensive,” is how he calls it.
Elsewhere the world’s highest IQ record holder and Grand Master of Memory, Younghoon Kim, has shared on X how he believes that “American Bitcoin will be the smartest company in the world.”
The future in the U.S. continues to focus on topics such as AI, quantum computing and digital assets. It may well be as Matt has suggested, “If you were to create a category leader of Bitcoin in 2025 it would look a great deal like American Bitcoin.”
There are a lot of reasons to consider following American Bitcoin in the future, there may also be reasons to invest in the company.
Author: Andy Samu
The Editorial Team at #DisruptionBanking have taken all precautions to ensure that no persons or organisations have been adversely affected or offered any sort of financial advice in this Article.
This Article is most definitely not Financial Advice.
Our readers are reminded that investing in cryptocurrencies can mean that you will lose all your money. Companies that are exposed to Bitcoin may offer alternative investment strategies.
See Also:
Arizona and New Hampshire Are Going Full Crypto—And It’s Just the Beginning | Disruption Banking
