Nakamoto, a company led by crypto entrepreneur David Bailey, has just completed a merger that gives it the power and funding to invest heavily in Bitcoin. According to reports shared Thursday, Nakamoto can now buy up to $740 million worth of Bitcoin.
Bailey plans to use Nakamoto as a major Bitcoin holder, similar to what MicroStrategy has done. While the details of who they merged with and when they’ll start buying weren’t shared, this move hints at a big new player entering the Bitcoin market—especially at a time when fewer coins are being mined due to the recent halving.
