David Bailey, the CEO of BTC Inc. and owner of Bitcoin Magazine, is reportedly gearing up to launch a new publicly traded bitcoin investment firm, according to a report from The Information. Bailey, who provided crypto policy advice to former President Donald Trump during his 2024 campaign, is looking to raise $300 million to support the venture.
The plan involves raising $200 million through a private share sale and another $100 million in convertible debt. The company, which will merge with BTC Inc., is expected to be named “Nakamoto” in tribute to Bitcoin’s mysterious creator, Satoshi Nakamoto. The merger could be finalized as soon as next week.
Bailey’s move follows the success of Michael Saylor’s Strategy, which saw a dramatic 3,000% increase in stock price after shifting to a bitcoin-focused strategy and rebranding as a bitcoin asset company.
This development comes amid a surge in interest from other financial giants, including SoftBank, Tether, and Cantor Fitzgerald, which have recently launched a $3.6 billion bitcoin investment vehicle. In addition, Strive Asset Management announced its plans to merge with Asset Entities, aiming to create a publicly traded bitcoin-focused asset management company.
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