David Bailey, cryptocurrency advisor to U.S. President Donald Trump, plans to purchase a substantial amount of Bitcoin through Satoshi Nakamoto Inc., with a target of around 6,400 bitcoins this week.

Bitcoin advocate David Bailey, who previously provided cryptocurrency policy advice to former U.S. President Donald Trump, announced plans to purchase $762 million worth of Bitcoin on Tuesday.

"Since I got involved with Bitcoin, I've always dreamed of buying $1 billion worth of Bitcoin in one go," he said on Monday. "Tomorrow, that dream comes true."

Bailey later pointed out that the $1 billion figure was a 'generous' round number based on $762 million.

This amount can buy approximately 6,400 bitcoins at current market prices.

Bailey added that this purchase will use a volume-weighted average price (VWAP) strategy, breaking large orders into smaller trades to minimize slippage and market disruption, rather than making a direct market buy.

Bailey is the CEO of Nakamoto Inc., the native holding company for Bitcoin, and also a co-founder of BTC Inc., the parent company of Bitcoin Magazine.

In another article, he stated: "Satoshi has a unique strategy; once you see it in action, you will understand why we will become one of the largest holders of Bitcoin in the world."

"We are building a Bitcoin giant."

Increase awareness of Bitcoin in the U.S.

Bailey served as an advisor during President Trump's campaign and is regarded as a key figure in the president's Bitcoin transformation.

Earlier this month, he expressed hopes to raise $200 million for a political action committee (PAC) to advance Bitcoin's interests in the U.S.

"This year I learned a lot about politics and the rules of political games. I am considering raising a political action committee (PAC) led by Satoshi with $100 million to $200 million to advance Bitcoin's priorities," he said at the time.

Satoshi Nakamoto adopts the bullfrog as its mascot.

Satoshi Nakamoto changed its mascot to a bullfrog on Monday, and Bailey explained that it represents 'the legendary treasure hoarder, top predator, invasive species, and is willing to eat anything that can make our Bitcoin per share grow.'

According to a statement from merger partner KindlyMD, the company raised $51.5 million in capital through a private placement in public equity trading this June.

Corporate holdings continue to rise.

According to data from BitcoinTreasuries.NET, at least 17 organizations added Bitcoin to their treasury in the past month.

The total number of public and private companies currently holding this asset is 221, with a total of over 1.24 million BTC.