Trump’s Crypto Advisor David Bailey Launches $300 Million Bitcoin Investment Firm

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David Bailey, CEO of BTC Inc., a media group and a notable crypto advisor to President Donald Trump, has successfully secured $300 million to establish a publicly traded bitcoin investment firm, as confirmed by CNBC.

The financing deal, initiated in January, includes $200 million in equity and $100 million in convertible debt, according to a source who preferred to remain anonymous due to the confidentiality of the fundraising announcement. The Information was the first to report on it.

Bailey’s new venture, named Nakamoto in homage to bitcoin’s elusive creator Satoshi Nakamoto, aims to acquire and hold bitcoin. The company is expected to merge with an existing Nasdaq-listed entity, with an announcement anticipated early next week, as per the insider. The public listing is projected for summer.

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Nakamoto’s strategy involves purchasing companies worldwide, including in Brazil, Thailand, and South Africa, and channeling its bitcoin investments into these entities, according to the source. The enterprise has garnered support from a group of prominent investors and features a notable advisory board.

Bitcoin investment firms typically attract large financing through a combination of equity and debt to acquire and hold bitcoin, providing a stock option for investors looking to capitalize on bitcoin’s price movements.

Michael Saylor, founder of Strategy (formerly MicroStrategy), popularized this approach by converting its cash reserves into bitcoin starting in 2020. This shift transformed the software firm into a major bitcoin holding company, leading to a significant increase in its stock value alongside bitcoin’s growth. It is now recognized as one of the largest bitcoin holders globally.

Jack Mallers, known for creating the Strike payments app, has raised billions for his bitcoin-holding enterprise Twenty One, with backing from SoftBank and Tether.

“Our pride lies in maintaining blue-chip credibility while leveraging startup potential,” Mallers stated during his appearance on CNBC’s Crypto World this week. “We believe that we have the scale to succeed with billions of dollars at launch while retaining the agility to grow and deliver bitcoin-denominated returns in an increasingly competitive market for bitcoin exposure.”

WATCH: Jack Mallers aims to challenge Strategy with a new bitcoin company supported by Tether and SoftBank

Jack Mallers looks to rival Strategy with new bitcoin company backed by Tether and SoftBank