David Bailey, CEO of BTC Inc. and a crypto advisor to Donald Trump’s 2024 campaign, is reportedly preparing to launch a public bitcoin investment company. According to sources, Bailey aims to secure $200 million via a private share sale and an additional $100 million through convertible debt to fund the initiative.
The company, expected to merge with BTC Inc. and potentially be named ‘Nakamoto’, would purchase and hold bitcoin as its primary asset. The move follows the trend set by Michael Saylor's Strategy, which saw significant stock price appreciation after focusing on bitcoin.
Other recent entrants into the sector include SoftBank, Tether, and Cantor Fitzgerald, which together announced a $3.6 billion bitcoin investment vehicle, and Strive Asset Management, which is merging to create a publicly traded bitcoin asset manager. The formal announcement of Bailey's new company could arrive as soon as next week.