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David Bailey, CEO of Media Group BTC Inc., and a Crypto City Advisor to President Donald Trump, raised $ 300 million to launch a bitcoin Investment company, confirmed CNBC.
The agreement, which has been underway since January, is made up of $ 200 million in equity funding and $ 100 million in convertible debt, according to a person familiar with the question that has asked not to be appointed because the fundraising has not been announced. Information was the first to cover history.
Bailey's company is called Nakamoto, a tribute to the pseudonym creator of Bitcoin Satoshi Nakamoto. He will focus on the acquisition and holding of Bitcoin and is expected to merge with a listed company at the existing NASDAQ in a transaction which should be announced at the beginning of next week, said the person. The company's public list is expected this summer.
Nakamoto plans to buy companies around the world, including Brazil, Thailand and South Africa, and investing its Bitcoin, the source said. The company is supported by a list of well -known investors, with an advisory advice which includes important figures, said the person.
Bitcoin investment companies are increasing large sums of money, often thanks to a mixture of equity and debt, to buy and maintain bitcoin. Their stock becomes another way for investors to bet on the price of bitcoin.
Michael Saylor, founder of Strategy (Formerly microstrategy), popularized the model, converting its Bitcoin cash reserves from 2020. The move transformed the software company into a Bitcoin de facto portfolio company, the value of its fleeting stock while Bitcoin has rallied. It is now one of the largest Bitcoin owners in the world.
Jack Mallers, who has become famous by launching the Strike Payments application, has obtained billions of dollars for his bitcoin-holding adventure Twenty-onewhich is supported by SoftBank and Tether.
“What we are really proud of is to be the credibility of the blue chip with the startup up,” said CNBC Crypto World Mallers this week. “We have the impression that we are large enough to win by entering the market with billions of dollars in capital when launching, but we are small enough to grow and we are small enough to display yields labeled by Bitcoin in what becomes an appetite for capital markets really competitive for Bitcoin exhibition.”
WATCH: Jack Mallers seeks to compete with a strategy with a new Bitcoin company supported by Tether and SoftBank
