Trump’s Cryptocurrency Advisor David Bailey Discusses Launching Bitcoin Investment Firm: The Information

David Bailey, the head of BTC Inc., which owns Bitcoin Magazine, is reportedly set to initiate a publicly listed investment firm focused on bitcoin. This information comes from sources familiar with the situation.

Bailey, who provided guidance to Donald Trump regarding cryptocurrency during the 2024 presidential campaign, is looking to raise $200 million via a private share offering, in addition to securing $100 million in convertible debt to establish a smaller publicly traded company aimed at bitcoin acquisition.

While the firm’s name is yet to be disclosed, it is expected to merge with BTC Inc. and be named “Nakamoto,” in honor of Bitcoin’s creator, Satoshi Nakamoto. An official announcement about the merger could take place as soon as next week.

His initiative appears to mirror the strategies of other firms, drawing inspiration from Michael Saylor, Executive Chairman of MicroStrategy, who significantly increased his company’s stock value by over 3,000% after designating bitcoin as its primary treasury asset and repositioning it as a bitcoin-focused enterprise.

Recently, major players such as SoftBank, Tether, and Cantor Fitzgerald unveiled plans for a $3.6 billion bitcoin investment venture aimed at acquiring the digital asset. Additionally, Strive Asset Management announced its merger with Asset Entities to form a publicly traded bitcoin asset management firm.