BTC Inc. CEO’s “Nakamoto” venture to go public via Nasdaq merger, aims to acquire and hold Bitcoin at scale
David Bailey, the CEO of BTC Inc. and a key cryptocurrency advisor to former President Donald Trump, has raised $300 million to launch a new publicly traded bitcoin investment company named Nakamoto. The move comes amid a resurgence of institutional interest in digital assets and marks the latest in a series of bitcoin-focused ventures making their way into public markets.
The funding round includes $200 million in equity and $100 million in convertible debt, according to a source familiar with the matter. The company is set to merge with an existing Nasdaq-listed firm, with an official announcement expected as early as next week. A public listing is anticipated later this summer.
Nakamoto—named in homage to Satoshi Nakamoto, the pseudonymous creator of bitcoin—will focus on acquiring and holding bitcoin as its core strategy. Bailey’s approach places the firm in the company of other emerging bitcoin-native public enterprises, such as Jack Mallers’ SoftBank-backed startup, Twenty One, which also aims to give investors broad exposure to bitcoin through traditional equity markets.
The deal, which had been under development since January, reflects growing momentum in the digital asset space, particularly as political and financial institutions begin to embrace crypto more openly. Bailey’s close connection with the Trump campaign adds further political weight to the initiative, especially as crypto policy continues to take shape ahead of the 2024 U.S. presidential election.
Bailey’s media group, BTC Inc., is best known for organizing Bitcoin 2024, one of the largest global gatherings of bitcoin advocates and investors. His new venture signals a shift from evangelism to capital deployment, bridging the gap between the bitcoin community and Wall Street.
With the anticipated Nasdaq listing, Nakamoto would provide investors with a publicly traded vehicle tied directly to bitcoin’s performance, potentially drawing interest from retail and institutional investors alike. The structure mirrors that of other high-profile entities like MicroStrategy, whose bitcoin holdings have played a major role in its stock price.
As the crypto industry eyes renewed legitimacy and capital inflow, Nakamoto’s launch adds another key player to a growing list of bitcoin-centric firms reshaping the traditional finance landscape.
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