David Bailey, the CEO of cryptocurrency media company BTC Inc. and a close advisor to former U.S. President Donald Trump on digital assets, has successfully raised $300 million to establish a new Bitcoin investment firm named Nakamoto. This venture, inspired by the pseudonymous creator of Bitcoin, aims to become a publicly traded company with a primary focus on acquiring and holding cryptocurrency.
According to a report from CNBC, the funding round, which has been under the radar since January, comprises $200 million in equity and $100 million in convertible debt. While the firm has yet to officially announce this raise, insiders anticipate an announcement will occur shortly, with a merger with a Nasdaq-listed company expected next week. The newly combined entity is predicted to go public this summer.
In response to the developments surrounding his new Bitcoin investment firm, Bailey posted a brief note on May 7 on X stating, ‘No comment.’
Strategic Expansion and Investment
Nakamoto’s strategic approach is modeled on that of successful firms like Strategy, which has evolved into a Bitcoin-holding behemoth under the leadership of Michael Saylor. The firm intends to invest in and acquire businesses in various countries, including Brazil, Thailand, and South Africa, while integrating Bitcoin into its capital structure.
This new venture comes at a time of renewed enthusiasm for institutional Bitcoin investment, influenced by several significant fundraising announcements from other prominent firms such as Twenty One Capital and Strive Asset Management. Many observers believe that Bailey’s initiative reflects a growing trend among institutional investors to seek exposure to Bitcoin.
The Rising Wave of Bitcoin-Focused Firms
Moreover, Bailey’s move follows several recent announcements from firms pivoting towards Bitcoin-focused strategies. For instance, on April 24, Twenty One Capital, spearheaded by Strike founder Jack Mallers with backing from Tether and SoftBank, expressed its ambition to surpass Strategy as the leading facility for investors seeking capital-efficient Bitcoin exposure.
Similarly, on May 7, Strive Asset Management—founded by Vivek Ramaswamy—revealed its plans to transition into a Bitcoin treasury company. This firm aims to engage in a reverse merger and is expected to issue approximately $1 billion in equity and debt to accumulate Bitcoin once the deal is finalized.
As the landscape for Bitcoin-focused firms continues to evolve, influencers within the crypto community have noted an acceleration in the launch of new BTC companies. TylerD, a well-known figure in crypto circles, highlighted this phenomenon in a recent post.
This surge in investment initiatives and the establishment of Bitcoin-centric companies may very well mark a pivotal moment in the cryptocurrency industry as more institutional players enter the space.
