David Bailey, a prominent Bitcoin proponent and former adviser to US President Donald Trump on cryptocurrency matters, is gearing up for a blockbuster Bitcoin acquisition. He revealed intentions to acquire approximately $762 million in Bitcoin (BTC) potentially as soon as Tuesday. Bailey shared his excitement on social media Monday, stating, “Since diving into Bitcoin, I’ve harbored this ambition to execute a massive $1 billion purchase in one go. That vision materializes tomorrow.” He clarified that the $1 billion was an optimistic rounding from the actual $762 million figure. At prevailing market rates, this sum could secure roughly 6,400 BTC. To execute the buy without rattling the markets, Bailey plans to employ a Volume Weighted Average Price (VWAP) approach. This method divides the hefty order into smaller increments, reducing potential price slippage and overall disruption compared to a direct all-in market order. As CEO of Nakamoto Inc., a firm focused on Bitcoin holdings, Bailey also co-founded BTC Inc., the entity behind Bitcoin Magazine. “At Nakamoto, we’ve crafted a unique playbook,” he posted. “Once it’s in play, it’ll be clear why we’re poised to rank among the world’s largest Bitcoin holders. We’re forging a Bitcoin powerhouse.” Boosting Bitcoin’s Profile in American Politics Bailey played a key role in Trump’s presidential run, influencing the president’s shift toward pro-Bitcoin stances. Just this month, he outlined plans to amass between $100 million and $200 million for a political action committee (PAC) dedicated to promoting Bitcoin-friendly policies in the US.
I’ve gained deep insights into the poitical arena this year. I’m considering launching a $100M-$200M PAC, backed by Nakamoto, to push Bitcoin’s agenda forward.
David Bailey
Nakamoto’s New Mascot: The Bullfrog
In a quirky update, Nakamoto unveiled the American bullfrog as its official mascot on Monday. Bailey described it as embodying a “mythic guardian of riches, a dominant hunter, an unstoppable invader, and ready to devour whatever boosts our Bitcoin value per share.” The company recently bolstered its coffers with $51.5 million raised in June via a private equity placement, as detailed in a merger announcement with KindlyMD.
Bitcoin’s appeal to businesses shows no signs of slowing. Data from BitcoinTreasuries.NET indicates that at least 17 entities have incorporated Bitcoin into their balance sheets in the last month alone. This brings the global tally to 221 public and private firms holding over 1.24 million BTC collectively.
