David Bailey, CEO of BTC Inc., the parent company of Bitcoin Magazine, is reportedly planning to launch a publicly traded bitcoin investment company, according to a report by The Information. Bailey, who served as a crypto policy adviser to former President Donald Trump during his 2024 campaign, is looking to raise $300 million to fund the venture.
The plan includes a private share sale aimed at securing $200 million, along with an additional $100 million through convertible debt. The new company, which will merge with BTC Inc., will be named “Nakamoto” in tribute to Bitcoin’s mysterious creator, Satoshi Nakamoto. The deal could be announced as early as next week.
Bailey’s move comes after the success of Michael Saylor’s MicroStrategy, which saw its stock soar over 3,000% after adopting bitcoin as its primary treasury asset and rebranding as a bitcoin strategy firm.
In a similar vein, other major companies are making significant strides in bitcoin investments. Last month, a group of financial giants including SoftBank, Tether, and Cantor Fitzgerald unveiled a $3.6 billion bitcoin investment project. Additionally, Strive Asset Management announced it would merge with Asset Entities to become a publicly traded bitcoin-focused asset management firm.
