Trump crypto advisor David Bailey launching $300 million bitcoin investment company

Vcg | Visual China Group | Getty Images David Bailey, CEO of media group BTC Inc., and a key crypto advisor to President Donald Trump, has raised $300 million to launch a publicly traded bitcoin investment company, CNBC has confirmed. The deal, which has been in the works since January, consists of $200 million in equity funding and $100 million in convertible debt, according to a person familiar with the matter who asked not to be named because the fundraise hasn't been announced. The Information was first to cover the story. Bailey's company is named Nakamoto, a tribute to the pseudonymous bitcoin creator Satoshi Nakamoto. It will focus on acquiring and holding bitcoin and is set to merge with an existing Nasdaq-listed company in a transaction that's expected to be announced early next week, the person said. The company's public listing is expected this summer. Nakamoto plans to buy companies around the world, including in Brazil, Thailand and South Africa, and invest its bitcoin i ... Read full article.