An influential cryptocurrency adviser to the President of the United States is making waves in the financial world by spearheading a new Bitcoin (BTC) investment firm. David Bailey, a crypto adviser to President Trump, has successfully secured $300 million in funding for his latest venture, Nakamoto, as reported by CNBC.
The fundraising efforts for Nakamoto comprise $200 million in equity and $100 million in convertible notes. Taking a page from the playbook of Strategy (formerly MicroStrategy), the investment firm’s strategy is centered around acquiring and holding BTC. Jack Mallers, the founder of the popular payments app Stripe and the mastermind behind a separate BTC-holding project called Twenty One, shared his thoughts on the new venture, stating, “What we really pride ourselves on is being blue-chip credibility with startup upside. We feel like we’re big enough to win entering the market with billions of dollars of capital upon launch, but we’re small enough to grow and we’re small enough to post bitcoin-denominated returns in what’s becoming a really competitive capital markets appetite for Bitcoin exposure.”
The plan for Nakamoto includes a merger with a Nasdaq-listed company and a subsequent public listing expected to take place this summer. The firm aims to utilize a portion of its BTC holdings for international investments in companies situated in countries like Brazil, Thailand, and South Africa. In addition to his role as a crypto adviser, Bailey also serves as the CEO of BTC Inc.
As of the time of writing, BTC is valued at $100,068, marking a 3.4% increase over the past week. Nakamoto’s upcoming entry into the market is poised to make a significant impact, capitalizing on the growing demand for Bitcoin exposure in the capital markets.
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