Trump Crypto Adviser David Bailey’s Nakamoto Inc. Plans ‘Smash Buying’ Of $762M Bitcoin, Will Build ‘Bitcoin Juggernaut’
David Bailey, crypto policy adviser to US President Donald Trump and CEO of Nakamoto Inc., plans to buy $762.5 million in Bitcoin today to turn his firm into a “Bitcoin juggernaut.”
“Ever since getting into Bitcoin I’ve always had this dream of smash buying $1b of bitcoin in a single bid,” he said in an Aug. 11 X post.
Bailey said his $1 billion number includes some “some generous rounding” given the company’s $762.5 million in available cash on hand.
Bailey Plans To Make Nakamoto Inc. A Bitcoin Juggernaut
Bailed said Nakamoto Inc will purchase the Bitcoin using a Volume Weighted Average Price (VWAP) strategy, which breaks the large order into smaller trades. This will be done to minimize slippage and reduce the impact on the leading crypto’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 said in another X post yesterday. “We’re building a Bitcoin juggernaut.”
With Bitcoin trading at around $118,852 as of 2:35 a.m. EST, Nakamoto Inc. could purchase about 6,415.5 BTC if it uses the entire amount.
That would rank the company as the 14th biggest corporate Bitcoin holder, above Next Technology Holding Inc. and below Galaxy Digital Holdings Ltd, according to data from Bitcoin Treasuries.
Michael Saylor’s Strategy is currently the biggest corporate Bitcoin holder with its stash of 628,946 BTC.
Public Companies Now Hold 3.64 Million BTC
Bitcoin Treasuries data also shows that 292 entities currently hold Bitcoin on their balance sheets, with their total holdings standing at 3.64 million BTC.
That’s after at least 17 organizations added the leading crypto to their treasuries in the past month.
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