David Bailey, CEO of Nakamoto Inc. and crypto policy adviser to US President Donald Trump, has announced his intention to purchase $762.5 million in Bitcoin. This move aims to turn his company into one of the largest holders of Bitcoin.
Plans for Bitcoin Acquisition
Bailey expressed his dream of one day buying $1 billion in Bitcoin all at once. In his X post on August 11, he mentioned that his $1 billion figure includes some 'generous rounding' based on the company's $762.5 million in cash on hand.
Purchase Strategy
Bailey indicated that Nakamoto Inc. will implement a Volume Weighted Average Price (VWAP) strategy, which breaks the larger order into smaller trades. This approach is intended to minimize slippage and reduce the impact on Bitcoin's price. 'We have a one-of-a-kind strategy at @nakamoto; once you see it in action, you'll understand why we'll be one of the top holders of Bitcoin in the world,' he stated.
Data on Corporate Bitcoin Holders
Currently, Nakamoto Inc. could purchase approximately 6,415.5 BTC, placing the company as the 14th largest corporate Bitcoin holder, above Next Technology Holding Inc. and below Galaxy Digital Holdings Ltd. Overall, public companies now hold a total of 3.64 million BTC.
Nakamoto Inc.'s Bitcoin purchase under David Bailey's leadership could significantly alter the company's market position and solidify its standing among major Bitcoin holders.
