David Bailey, the CEO of BTC Inc. and owner of Bitcoin Magazine, is set to launch a publicly traded investment company focused on Bitcoin (BTC), according to reports from The Information. This new venture is anticipated to raise $200 million through a private share sale, along with an additional $100 million in convertible debt. The plan involves merging with BTC Inc. and naming the new entity “Nakamoto,” in homage to Bitcoin’s mysterious creator, Satoshi Nakamoto. An official announcement regarding this deal could be made as early as next week.
Bailey, who previously advised Donald Trump on cryptocurrency policy during the 2024 campaign, is joining the trend of corporations leveraging Bitcoin’s success in the financial market. Other notable players include Strategy’s Michael Saylor, whose company saw its stock price soar over 3,000% after shifting to Bitcoin as a key treasury asset.
Additionally, last month saw the emergence of a $3.6 billion Bitcoin investment vehicle from prominent firms like SoftBank, Tether, and Cantor Fitzgerald, aimed at acquiring Bitcoin. Strive Asset Management recently announced its merger with Asset Entities to form a publicly traded Bitcoin asset management company, reflecting a growing interest in Bitcoin-driven investment strategies.
This signifies a burgeoning acceptance and integration of Bitcoin within mainstream finance, potentially paving the way for more innovative financial products that aim to attract traditional investors. As the cryptocurrency market continues to evolve, Bailey’s initiative could amplify Bitcoin’s legitimacy as a viable investment asset and encourage further institutional adoption.