An active crypto adviser to the President of the United States is raising funds to launch a Bitcoin (BTC) investment firm.
According to a new CNBC report, Trump crypto adviser David Bailey has raised $300 million in funding for a new BTC investment company, Nakamoto.
The $300 million fundraising includes $200 million in equity and $100 million in convertible notes.
Following the approach of Strategy, formerly MicroStrategy, the investment firm intends to buy and hold BTC.
Stripe payments app founder Jack Mallers, himself launching a different BTC-holding venture called Twenty One, said in the report:
“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.”
Nakamoto is expected to merge with a Nasdaq-listed company and go public sometime this summer. The venture plans to use some of the BTC for international investments in companies in Brazil, Thailand and South Africa.
Bailey is also the CEO of the media group BTC Inc.
BTC is worth $100,068 at time of writing, up 3.4% in the last week.
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