A total of $300 million has reportedly been raised by David Bailey, the CEO of crypto media firm BTC Inc. and a key adviser to U.S. President Donald Trump on digital assets, to establish a new Bitcoin-focused investment company.
Following the successful raising of $300 million, Bailey’s Bitcoin investment firm, Nakamoto, is reportedly being prepared to go public, becoming part of a growing group of entrants in the cryptocurrency sector.
The venture, named Nakamoto in reference to Bitcoin’s pseudonymous creator Satoshi Nakamoto, is intended to become a publicly listed firm dedicated to acquiring and holding the cryptocurrency, according to sources cited by CNBC. The story was initially reported by The Information.
According to a source cited by CNBC, the funding round—underway discreetly since January—has comprised $200 million in equity and $100 million in convertible debt.
Although the firm has not formally disclosed the capital raise, an official announcement and a merger with a Nasdaq-listed company are anticipated as early as next week. According to the report, the resulting entity is expected to be taken public during the summer.
A response appearing to address the news surrounding the Bitcoin investment firm was posted by Bailey on X on May 7, in which the phrase “No comment” was written.
New Bitcoin-Focused Companies Are Emerging Rapidly
The strategy of Nakamoto has been modeled after firms such as Strategy, which was transformed into a major Bitcoin-holding entity under the leadership of Michael Saylor.
Businesses across various countries, including Brazil, Thailand, and South Africa, are expected to be invested in and acquired by the firm, with Bitcoin being incorporated into its capital structure.
The venture is said to be supported by notable investors and is accompanied by an advisory board composed of several distinguished individuals from the financial and cryptocurrency industries.
Bailey’s initiative has been introduced during a period of revived interest in institutional Bitcoin investment, following significant fundraising disclosures made by firms such as Twenty One and Strive Asset Management.
It was announced on April 24 by Twenty One Capital—headed by Strike founder Jack Mallers and backed by Tether, SoftBank, and Cantor Fitzgerald—that efforts were underway to surpass Saylor’s Strategy and establish itself as the “superior vehicle for investors pursuing capital-efficient Bitcoin exposure.”
Plans to transition into a Bitcoin treasury firm were disclosed on May 7 by Strive Asset Management, which was founded by entrepreneur and former presidential candidate Vivek Ramaswamy.
A reverse merger is being utilized by the firm to go public, with the stock of the merged entity intended to be used for Bitcoin accumulation. Upon the completion of the transaction, approximately $1 billion in equity and debt is expected to be issued by Strive, with the proceeds allocated toward acquiring BTC.
It was noted by crypto influencer TylerD in a post on X that the rate at which new BTC-focused companies are being launched is increasing.
