David Bailey, known for his close ties to Donald Trump on crypto policy, is preparing to launch a major Bitcoin investment vehicle named Nakamoto, backed by $300 million in funding.
The company plans to go public via a reverse merger and use the proceeds to accumulate BTC on a large scale.
The capital—split between $200 million in equity and $100 million in convertible debt—has been quietly raised since January, according to people familiar with the plans. The deal could be announced as early as next week, with a summer listing on Nasdaq expected.
Unlike traditional investment firms, Nakamoto will take a page from Bitcoin-native corporate strategies, following in the footsteps of entities like MicroStrategy by using BTC as a treasury asset and core business model. The firm also plans to explore acquisitions in emerging markets such as Brazil, South Africa, and Thailand.
The project has drawn high-profile backers and is forming a heavyweight advisory board from across crypto and finance. While Bailey hasn’t formally acknowledged the initiative, a brief “no comment” on X suggests the reports are accurate.
Nakamoto’s arrival adds to a wave of Bitcoin-centric firms hitting the market. Twenty One Capital, backed by players like Tether and SoftBank, and Strive Asset Management, co-founded by Vivek Ramaswamy, have both recently unveiled similar strategies, each aiming to become the next institutional gateway to Bitcoin.
As crypto influencer TylerD put it: “We’re watching a new generation of BTC-first companies take shape—and they’re moving fast.”
In a recent interview with Bankless, Tether CEO Paolo Ardoino shed light on the growing adoption of stablecoins like USDT, linking their rise to global economic instability and shifting generational dynamics.
In a statement that marks a major policy shift, U.S. Treasury Secretary Scott Bessent confirmed that blockchain technologies will play a central role in the future of American payments, with the U.S. dollar officially moving “onchain.”
JPMorgan and other major U.S. banks are under fire for a lawsuit aimed at dismantling the Consumer Financial Protection Bureau’s (CFPB) newly established “Open Banking Rule.”
The crypto market remains firmly in “Greed” territory, with CoinMarketCap’s Fear & Greed Index clocking in at 69/100 on July 19. Despite a modest 24-hour dip from 71, the index has now held above 60 for 11 consecutive days.