The U.S. President Donald Trump’s crypto adviser, David Bailey, is set to buy $762 million worth of Bitcoin as soon as Tuesday. Bailey is a strong Bitcoin supporter and the CEO of Nakamoto Inc., a company focused on Bitcoin investments.
He said in a post on X he has always wanted to make a large purchase in one go. “Ever since getting into Bitcoin, I’ve always had this dream of smash buying $1 billion of Bitcoin in a single bid,” he shared on Monday, adding, “Tomorrow, that dream comes true.” He later explained that the $1 billion figure was a generous round-up from the actual $762 million.
Bailey plans to use a method called Volume Weighted Average Price (VWAP) for the buy. This means the large order will be broken down into smaller trades. The aim is to avoid sudden changes to Bitcoin’s market price and limit disruption.
Bailey said Nakamoto Inc. has a unique strategy behind this plan. He believes it will make them one of the top Bitcoin holders worldwide. “We have a one-of-a-kind approach at Nakamoto. Once you see it in action, you’ll understand why we’ll be among the top Bitcoin holders globally,” he wrote in another X post, adding, “We’re building a Bitcoin juggernaut.”
Bailey leads Nakamoto Inc., a Bitcoin treasury company, and he also helped start BTC Inc., the parent company of Bitcoin Magazine. Bailey was also an adviser during Trump’s presidential campaign and helped shape the former president’s views on Bitcoin. He is now working on raising money to support Bitcoin causes in the U.S.
He hopes to raise between $100 million and $200 million for a political action committee (PAC) focused on Bitcoin. This shows his desire to influence policy and support Bitcoin adoption at a higher level.
Recently, Nakamoto Inc. changed its mascot to a bullfrog. Bailey said in another X post that the bullfrog represents a “legendary treasure hoarder,” symbolizing the company’s goal to keep growing its Bitcoin holdings steadily.
In June, Nakamoto raised $51.5 million in a public equity deal, showing that the company’s assets and ambitions are expanding.
The trend of companies adding Bitcoin to their assets continues. In the last month alone, at least 17 companies have added Bitcoin to their treasury. As per data on BitcoinTreasuries.NET, there are now 221 public and private firms holding over 1.24 million Bitcoin in total.
This Bitcoin purchase for digital asset treasury and Bailey’s efforts to raise funds for Bitcoin support shows growing confidence in the Bitcoin and other digital assets. This move also reflects increasing institutional interest which will make Bitcoin a stronger part of the financial system in the U.S. and across the globe.