David Bailey, former Trump crypto adviser, is raising $300M to launch Nakamoto, a public Bitcoin investment firm, following MicroStrategy’s playbook.

David Bailey, the brash Bitcoin evangelist who once shaped Donald Trump’s crypto policies, is now making his boldest Wall Street play yet. The CEO of BTC Inc., parent company of Bitcoin Magazine, is in advanced talks to launch Nakamoto, a publicly traded investment firm aimed at hoarding Bitcoin, according to sources close to the matter.

The move, which seeks to raise $300 million through private equity and convertible debt, mirrors the high-stakes strategy of MicroStrategy’s Michael Saylor, whose relentless Bitcoin accumulation turned the software firm into a crypto proxy for institutional investors. But Bailey’s venture carries added political weight: his ties to Trump, now a vocal crypto ally, could galvanize a base of retail and institutional backers alike.

“This isn’t just another fund it’s a manifesto,” muttered one insider, referencing the firm’s working name, Nakamoto, a nod to Bitcoin’s pseudonymous creator. The timing is deliberate. With SoftBank and Tether recently unveiling a $3.6 billion Bitcoin vehicle, and Strive Asset Management pivoting to crypto, Bailey’s entry signals a scramble to legitimize Bitcoin as a cornerstone of corporate treasuries.

Yet skepticism lingers. Bitcoin’s volatile 2025, down 44% since January, has tested even die-hard believers. And while Bailey’s Trump-era clout may lure investors, his firm’s success hinges on a market that’s increasingly crowded, politicized, and vulnerable to meme-driven swings.

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For now, all eyes are on next week’s expected announcement. Will Nakamoto become the next MicroStrategy or just another casualty of crypto’s hype cycle? Bailey, ever the provocateur, seems ready to bet $300 million on the answer.