Bitcoins
Bitcoins Bailey, who advised President Donald Trump on crypto policy during his 2024 presidential campaign, is reportedly raising $300 million to buy bitcoin.
Updated May 8, 2025, 7:18 a.m. Published May 7, 2025, 8:46 p.m.
David Bailey, CEO of BTC Inc., the owner of Bitcoin Magazine, is planning to launch a publicly traded bitcoin (BTC) investing company, The Information reported, citing people familiar with the matter.
Bailey, who advised Donald Trump on crypto policy during his 2024 presidential campaign, is reportedly seeking $200 million through a private share sale and an additional $100 million in convertible debt to fund a small publicly traded firm to buy bitcoin.
The company—whose name is not known yet—will merge with BTC Inc. and be named “Nakamoto” after bitcoin creator Satoshi Nakamoto, according to the people. The deal could be announced as soon as next week.
His plans follow those of several other companies, building on the success of Strategy executive chairman Michael Saylor, who was able to push the company’s stock price by over 3,000% since holding bitcoin as its main treasury reserve asset and rebranding it as a bitcoin strategy company.
Last month, powerhouses SoftBank, Tether and Cantor Fitzgerald announced a $3.6 billion bitcoin investment vehicle with the intention to buy bitcoin. Earlier today, Strive Asset Management said it was merging with Asset Entities to become a publicly traded bitcoin asset management company.
Helene Braun
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
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