David Bailey, CEO of BTC Inc. and a key crypto adviser to President Donald Trump, has raised $300 million to launch a new Bitcoin-focused investment firm named Nakamoto, according to recent reports.
The Vision Behind Nakamoto
The firm, inspired by Bitcoin’s mysterious creator Satoshi Nakamoto, aims to become a public company that acquires and holds Bitcoin as a core part of its operations. The startup raised $200 million in equity and $100 million in convertible debt in a funding round that’s been quietly ongoing since January.
Although the firm has yet to make an official announcement, insiders told CNBC that a reverse merger with a Nasdaq-listed company is in the works, with public trading expected to begin this summer.
When asked for comment, Bailey responded with a simple “No comment” on X (formerly Twitter) on May 7.
Bitcoin Treasury Strategy Gaining Traction
Nakamoto will follow the path forged by companies like MicroStrategy under Michael Saylor, which transitioned into a Bitcoin-holding giant. Nakamoto’s approach includes acquiring companies globally—including in regions like Thailand, South Africa, and Brazil—while leveraging Bitcoin as part of its capital structure.
The firm is backed by notable investors and includes several high-profile financial and crypto experts on its advisory board.
Bailey’s move aligns with a broader wave of institutional interest in Bitcoin. Firms such as Twenty One Capital and Strive Asset Management are also making similar shifts toward crypto-based treasury management.
A Trend of Crypto-Focused Firms Going Public
On April 24, Twenty One Capital—led by Strike founder Jack Mallers and supported by Tether, SoftBank, and Cantor Fitzgerald—announced its goal to become the go-to vehicle for efficient Bitcoin exposure, positioning itself as a rival to MicroStrategy.
Shortly after, on May 7, Strive Asset Management revealed its plans to go public via a reverse merger and raise $1 billion in equity and debt to purchase Bitcoin for its treasury.
“The pace of these new BTC companies launching is accelerating,” noted crypto commentator TylerD on X.
Bailey’s Nakamoto is poised to join this rapidly growing wave of institutional Bitcoin adoption, further cementing the digital asset’s role in corporate finance and long-term investment strategy.