David Bailey, CEO of BTC Inc., the owner of Bitcoin Magazine, is planning to launch a publicly traded bitcoin (BTC) investing company
David Bailey, CEO of BTC Inc. and advisor to Donald Trump on crypto policy during his 2024 presidential campaign, is planning to launch a publicly traded bitcoin (BTC) investing company, The Information reported, citing people familiar with the matter.
Bailey, previously the chairman and CEO of Spatial Capital, is planning to focus on bitcoin investing after advising the former U.S. president on crypto policy during his presidential campaign.
The company, whose name is not yet known, will be funded by a private share sale that aims to raise $200 million and an additional $100 million through convertible debt to buy bitcoin, according to the report.
The small publicly traded firm will then merge with BTC Inc. and be named “Nakamoto” after bitcoin creator Satoshi Nakamoto, the people said. The deal could be announced as soon as next week.
Bailey’s plans follow those of several other companies, notably in the success of Saylor, who was able to push the company's stock price by over 3,000% since holding bitcoin as its main treasury reserve asset and rebranding it as a bitcoin strategy company.
Last month, powerhouses SoftBank, Tether and Cantor Fitzgerald announced a $3.6 billion bitcoin investment vehicle with the intention to buy bitcoin. Earlier today, Strive Asset Management said it was merging with Asset Entities to become a publicly traded bitcoin asset management company.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
