Trump's cryptocurrency advisor, David Bailey, is negotiating to launch a Bitcoin investment company:
Bailey, who advised President Donald Trump on cryptocurrency policy during his 2024 presidential campaign, is reportedly raising $300 million to buy bitcoin. Things to know: Bitcoin magazine owner, David Bailey, is planning to launch a public bitcoin investment company called 'Nakamoto', The Information reports. Bailey is seeking $300 million in funding through private equity and convertible debt to buy bitcoin and take the company public. This move reflects the growing trend of bitcoin-focused companies going public, following the lead of MicroStrategy and recent announcements from SoftBank and Strive.
David Bailey, CEO of BTC Inc., owner of Bitcoin Magazine, is planning to launch a publicly traded bitcoin (BTC) investment company, The Information reports, citing insider sources.
Bailey, who advised Donald Trump on cryptocurrency policy during his 2024 presidential campaign, is reportedly looking for $200 million through private stock sales and an additional $100 million in convertible debt to fund a small public company to buy bitcoin.
His plan follows the strategy of several other companies, based on the success of Strategy CEO Michael Saylor, who has been able to push the company's stock price up over 3,000% since holding bitcoin as the primary treasury reserve asset and renaming the company as a bitcoin strategy company.
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