David Bailey, digital assets advisor to President Donald Trump and CEO of BTC Inc., has reportedly closed a $300 million raise for a new bitcoin-focused investment firm called Nakamoto.
The firm, named after Bitcoin’s creator Satoshi Nakamoto, will be a publicly traded company with a bold strategy: to buy and hold bitcoin and invest in companies globally.
The raise has been in the works since January and includes $200 million in equity and $100 million in convertible debt, according to CNBC and The Information. The capital will be used for global expansion and bitcoin acquisition.
Nakamoto will merge with an already listed company on the Nasdaq and the announcement is expected to come as early as next week, said CNBC, citing an unnamed individual familiar with the matter.
They plan to be public by summer 2025, becoming one of the newest players in the growing wave of bitcoin investment firms.
Although Bailey has not commented on the reports, he posted “No comment” on X on May 7th, fueling more speculation about the venture’s announcement.
The business model is similar to what Michael Saylor, executive chairman of Strategy did in 2020.
He converted the company’s cash reserves into bitcoin and turned the software firm into the largest corporate holder of bitcoin. The stock price of Strategy skyrocketed ever since.
Bailey is following the same path. His firm will use the money to buy and hold bitcoin and invest in companies in Brazil, Thailand and South Africa.
According to reports, Nakamoto will use bitcoin as part of its capital structure, essentially becoming a bitcoin-based investment powerhouse.
The venture is already getting attention from the investment community. Nakamoto is backed by big names and has assembled an advisory board with well-known Bitcoin and finance personalities.
This puts Bailey’s firm in competition with other big players in the space, including Twenty One Capital, founded by Strike app creator Jack Mallers, and Strive Asset Management, led by entrepreneur and former presidential candidate Vivek Ramaswamy.
Related: Cantor Fitzgerald, Tether and SoftBank Launch $3B Bitcoin Venture
Both firms recently announced similar strategies—raising big money to buy bitcoin and going public via reverse mergers. Twenty One, backed by SoftBank, Tether and Cantor Fitzgerald, will be a “superior vehicle for investors seeking capital-efficient Bitcoin exposure,” Mallers said.
Bailey’s announcement comes as institutional interest in bitcoin is heating up. Several companies are now positioning themselves as public vehicles for bitcoin ownership, so investors can get exposure to the scarce digital asset without actually holding it.
Influencer TylerD pointed out the momentum on social media, saying, “The pace of these new BTC companies launching is accelerating.”
This strategy is becoming more popular as regulations get clearer and interest in bitcoin grows.
Being a digital asset policy advisor to Donald Trump during the 2024 presidential campaign gives Bailey a unique political angle. His involvement could be a sign that U.S. politics is moving towards bitcoin adoption faster than anyone had anticipated.
He’s also close to Trump so that will attract conservative investors who see bitcoin as a hedge against inflation and central bank policies.
