Trump Advisor Launches New Bitcoin Investment Firm with Massive Valuation
Company follows Michael Saylor's "Strategy" model
David Bailey, CEO of the media group BTC Inc. and a key cryptocurrency advisor to former President Donald Trump, has raised $300 million to launch a publicly traded Bitcoin investment firm.
The deal, which has been in the works since January, consists of $200 million in equity financing and $100 million in convertible debt, according to CNBC and as reported by Al Arabiya Business.
Bailey’s company is named Nakamoto, in honor of Bitcoin’s pseudonymous creator, Satoshi Nakamoto. The firm will focus on acquiring and holding Bitcoin, mirroring the strategic model adopted by Michael Saylor's company MicroStrategy.
Nakamoto is set to merge with a Nasdaq-listed company in a deal expected to be announced early next week, according to sources. The company is anticipated to go public later this summer.
