BTC Inc. CEO David Bailey and the crypto advisor to U.S. President Donald Trump have reportedly raised $300 million for a new publicly floated investment in bitcoins, as confirmed by CNBC.
It’s called Nakamoto after the pseudonym of the Bitcoin system’s presumed founder: it will receive $200m for equity investment and $100m in convertible notes. The campaign started in January, and although it had not been publicly declared, insiders had revealed much of the information.
Nakamoto plans to become an institutional investor in Bitcoin, armed with millions of invested capital. It is to float the company through a reverse takeover of an existing firm with operations on the Nasdaq, and the details of the move are expected to be released in the coming week. It is expected that the public offering will be in late summer.
Instead of just investing in Bitcoins, Nakamoto wants to go international through the acquisition of businesses in countries like Brazil, Thailand, and South Africa. This way, it will enable its bitcoin funding of these businesses to drive the internationalization of crypto capital. The firm is believed to have some identified big names as its investors, and it also has an identified advisory board that is made up of other personalities from the industry.
This move is in line with a trend evidenced by bitcoin investment firms that are leveraging equity and debt to consolidate large amounts of bitcoin. The shares of these companies are listed on the stock markets and hence offer investors an opportunity to have an indirect exposure to digital assets’ price swings.
This model was popularized by Michael Saylor, the founder of MicroStrategy, which started converting its cash in 2020. That action made MicroStrategy one of the biggest institutional investors in the digital asset and gave its shares a boost during the bitcoin bull runs.
Also Read: Michael Saylor’s Strategy Plans $84 Billion Bitcoin Investment
