David Bailey, a crypto advisor to Donald Trump and CEO of BTC Inc., has secured $300 million to launch a publicly traded bitcoin investment company.

The funding for this new venture, named Nakamoto (a tribute to Bitcoin’s pseudonymous creator, Satoshi Nakamoto), will consist of $200 million in equity and $100 million in convertible debt, according to sources.  

Nakamoto plans to acquire and hold Bitcoin, and will also invest its Bitcoin holdings into companies globally, including those in Brazil, Thailand, and South Africa. The venture is backed by a group of investors and will have an advisory board with prominent figures.  

This move places Bailey’s company within the growing trend of public firms that specialize in Bitcoin investment. These companies allow investors to gain exposure to Bitcoin price movements through stock ownership.

The model of using company funds to buy and hold Bitcoin was popularized by Michael Saylor’s Strategy (formerly MicroStrategy), which saw its stock price rise with Bitcoin’s surge.  

Notably, Jack Mallers, known for the Strike payments app, has also raised significant capital for his Bitcoin-focused venture, Twenty One, which is supported by SoftBank and Tether. Mallers emphasizes his company’s combination of “blue-chip credibility with startup upside.