David Bailey, CEO of media group BTC Inc. and advisor to U.S. President Donald Trump on cryptocurrency during the 2024 election campaign, is preparing to launch a public investment company focused on Bitcoin. This was reported by The Information, citing related sources.
The total amount of funding he has raised is $300 million, of which $200 million will constitute the equity of the newly created company, obtained through the sale of shares to private investors, while $100 million will be in the form of convertible debt, according to the publication.
The new project, which has not yet been officially announced, will be named Nakamoto following the merger with BTC Inc. — in honor of Bitcoin creator Satoshi Nakamoto. The company will be public, focused on buying and holding Bitcoin as its primary asset, according to the media.
The deal to establish the company is expected to be announced later in May 2025, and the listing on the Nasdaq exchange will take place this summer.
“This will be a public company that will invest exclusively in Bitcoin and related assets,” said an anonymous source, confirming the details of a deal that has been in preparation since January 2025.
According to the source, Nakamoto plans to acquire companies worldwide, including in Brazil, Thailand, and South Africa, with further capital infusion in the form of Bitcoin. Additionally, influential figures from the world of finance and cryptocurrencies will join Nakamoto's advisory board, the report states.
The Bailey project follows the example of Michael Saylor — the executive chairman of Strategy (formerly MicroStrategy), which was the first to transform itself into a Bitcoin company by converting cash reserves into cryptocurrency back in 2020. Strategy's balance sheet already holds over half a million Bitcoins.
It is noteworthy that during the Strategy World event, Saylor remarked that the company’s Bitcoin holdings worth over $52 billion exceeded the initial investment of $250 million five years ago by more than 200 times.
#BinanceSquare #Write2Earn #Nakamoto #strategy #Binance $BTC