A US cryptocurrency miner backed by Donald Trump Jr and Eric Trump is on the hunt for companies in Asia to load up with bitcoin, according to people familiar with the matter. American Bitcoin, which is already developing a “strategic” bitcoin reserve of its own, has begun sounding out investors about the potential acquisitions.

In early August, President Donald Trump signed a new executive order to allow alternative assets such as cryptocurrencies into 401 (k)s and other defined contribution plans. By the end of 2025, Bitcoin (CRYPTO: BTC) could be on its way to becoming a mainstream retirement asset.

Bitcoin hit a fresh record high close to $124,500 early on Thursday as the institutional adoption of crypto and U.S. government support for the sector continued to buoy demand. Bitcoin fell back a bit later in the day but remains up 112% over the past 12 months,