Nakamoto CEO David Bailey plans a $762M Bitcoin “smash buy,” moving closer to his $1B BTC acquisition goal.
Nakamoto CEO, David Bailey, has revealed plans to buy $762 million of Bitcoin in a single trading session.
This puts the business at the forefront of corporate Bitcoin accumulation, following its original aim to buy $1 billion worth of BTC.
David Bailey Gets Ready To Buy $762 Million In Bitcoin
Bailey recently assured his followers on X that his goal of immediately ordering $1 billion worth of Bitcoin would come true.
Ever since I first became interested in it, I’ve dreamed about purchasing $1 billion worth of Bitcoin in a single bid. “That dream comes true tomorrow,” he wrote.
He subsequently explained that the “$1 billion” estimate was a “generous rounding,” and that the real acquisition price was more like $762.5 million.
This amount would reserve nearly 6,400 Bitcoin for Nakamoto’s treasury at the current market price of about $118,892 per BTC.
The most recent phase in Bailey’s goal to turn Nakamoto into a “Bitcoin juggernaut” is his audacious acquisition plan.
Nakamoto CEO has repeatedly said that investors will see why Nakamoto will be one of the most oversized Bitcoin holders in the world once they witness the company’s strategy in action.
High-profile actions in the cryptocurrency industry are nothing new to the Nakamoto CEO. Bailey was Trump’s counsel on crypto policy during his presidential campaign.
He also co-founded BTC Inc., the parent business of Bitcoin Magazine.
Additionally, he was a major contributor to the previous president’s public shift toward Bitcoin.
After the Japanese company’s aggressive acquisitions earlier this year, he and Eric Trump joined Metaplanet’s Strategic Board of Advisors.
That appointment was made shortly after Metaplanet increased its holdings by 5,000 Bitcoin.
Nakamoto Participates In Growing Bitcoin Treasury Initiative
A flurry of corporate Bitcoin acquisitions coincides with the Nakamoto CEO’s ambitions for purchase.
According to data from Bitcoin Magazine Pro, at least 22 companies have incorporated Bitcoin into their balance sheets.
These organizations own 716,439 Bitcoin, valued at over $85 billion.
Among the most recent actions is Metaplanet’s prior acquisition of 518 BTC for about $61.4 million.
This increased its holdings to 18,113 Bitcoin, worth almost $1.85 billion.
In addition, Michael Saylor’s Strategy added 155 Bitcoin for $18 million, increasing its holdings to 628,946 Bitcoin.
They are the world’s most important corporate holding.
Nakamoto was established earlier this year by merging with KindlyMD, a company listed on the Nasdaq, and has positioned itself as a Bitcoin treasury company accessible to significant capital commitments.
The business earlier declared that it had raised $710 million to finance its efforts to acquire Bitcoin.
Bailey’s action demonstrates his belief that Bitcoin would become “the most valuable asset in human history,” despite some detractors questioning the optics of portraying $762 million as $1 billion.
