David Bailey, Former Trump Crypto Adviser, Is Reportedly Discussing Plans to Start a Bitcoin Investment Company, The Information Says.

David Bailey, CEO of BTC Inc., which owns Bitcoin Magazine, is reportedly preparing to launch a publicly traded bitcoin investment firm, according to The Information. Bailey, who advised Donald Trump on cryptocurrency policy during his 2024 presidential campaign, is aiming to raise $300 million to fund the venture.

The planned firm will seek $200 million through a private share sale and an additional $100 million via convertible debt. It will merge with BTC Inc. and is expected to be named “Nakamoto,” in homage to Bitcoin’s pseudonymous creator, Satoshi Nakamoto. The deal could be finalized as early as next week.

Bailey’s initiative follows the success of companies like Michael Saylor’s Strategy, which saw its stock price soar over 3,000% after adopting bitcoin as its primary treasury reserve and rebranding as a bitcoin-centric firm.

This comes as other major players in the financial world, including SoftBank, Tether, and Cantor Fitzgerald, have announced their own large-scale bitcoin investment projects. Strive Asset Management also recently revealed plans to merge with Asset Entities to create a publicly traded bitcoin-focused asset management company.