Nakamoto CEO David Bailey plans to buy $762M in Bitcoin, targeting 6,400 BTC, as part of his $1B goal to make Nakamoto a top corporate holder.
David Bailey, Nakamoto’s CEO, has disclosed his intention to acquire $762 million in Bitcoin during a single trading session. This is per the company’s initial strategy to acquire $1 billion in Bitcoin, which would have positioned it at the vanguard of corporate Bitcoin accumulation.
David Bailey Is Preparing to Purchase $762 Million in Bitcoin
In a recent X post, Bailey announced that his aspiration to acquire $1 billion in Bitcoin in a single transaction was imminently becoming a reality.
“I have always harbored the aspiration of purchasing $1 billion in Bitcoin in a single bid since I first became interested in the cryptocurrency.” He announced, “That aspiration will be realized tomorrow.”
As he subsequently clarified, the “$1 billion” figure was a “generous rounding,” with the actual purchase amount being closer to $762.5 million. This amount would secure approximately 6,400 Bitcoin for Nakamoto’s treasury at the current market rate of $118,892 per BTC.
Bailey’s ambitious acquisition strategy is the most recent phase of his endeavor to elevate Nakamoto to the status of a “Bitcoin juggernaut.” He has consistently maintained that investors will comprehend the rationale behind Nakamoto’s position among the world’s largest Bitcoin holders once they observe the company’s methodology.
The Nakamoto CEO is no stranger to high-profile maneuvers in the crypto sector. Bailey, who also co-founded BTC Inc., the parent company of Bitcoin Magazine, was previously Trump’s crypto policy adviser during his presidential campaign. Additionally, he was instrumental in the former president’s public shift toward Bitcoin.
He was appointed to Metaplanet’s Strategic Board of Advisors this year, where he served alongside Eric Trump, in response to the Japanese company’s aggressive acquisitions. Metaplanet’s acquisition of 5,000 BTC shortly preceded that appointment.
Nakamoto Participates in the Expansion of the Bitcoin Treasury Initiative
The Nakamoto CEO’s substantial acquisition plans have been announced amid a surge in corporate BTC acquisitions. According to data from Bitcoin Magazine Pro, at least 22 organizations have incorporated BTC into their balance sheets. Collectively, these entities hold 716,439 BTC worth over $85 billion.
Notable recent moves include Metaplanet’s purchase of 518 BTC for approximately $61.4 million. This increased its total holdings to 18,113 BTC, which are estimated to be worth roughly $1.85 billion. Michael Saylor’s Strategy also increased its holdings by 155 BTC for $18 million, bringing the total to 628,946 BTC. They are the most significant corporate holding in the world.
Nakamoto, which was established earlier this year through a merger with Nasdaq-listed KindlyMD, has identified itself as a Bitcoin treasury business that operates publicly and has access to substantial capital commitments. The company had previously disclosed that it had secured up to $710 million in funding to support its acquisition plans for BTC.
Although some critics query the optics of presenting $762 million as $1 billion, Bailey’s action nonetheless emphasizes his belief that Bitcoin will become “the most valuable asset in human history.”
