David Bailey, CEO of BTC Inc., which owns Bitcoin Magazine, is reportedly planning to launch a publicly traded bitcoin investment firm, according to The Information. Bailey, who served as an advisor on crypto policy during Donald Trump’s 2024 presidential campaign, is raising $300 million to fund the venture.
Bailey intends to raise $200 million through a private share sale, with an additional $100 million in convertible debt, to establish a company focused on purchasing bitcoin. The firm, which has yet to be named, will merge with BTC Inc. and will likely be called “Nakamoto,” after Bitcoin’s elusive creator, Satoshi Nakamoto. The announcement of the deal could come as early as next week.
Bailey’s move follows the success of other companies, including Strategy, led by executive chairman Michael Saylor, who saw its stock price surge more than 3,000% after converting its treasury reserves into bitcoin and rebranding as a bitcoin-focused company.
Recently, major firms such as SoftBank, Tether, and Cantor Fitzgerald have unveiled plans for a $3.6 billion bitcoin investment vehicle. Additionally, Strive Asset Management revealed it would merge with Asset Entities to create a publicly traded bitcoin asset management company.
