Trump Crypto Advisor Rakes In $300 Million For Bitcoin Investment Company That Hopes To Bring MSTR Model To The World

David Bailey, CEO of Bitcoin Magazine and cryptocurrency advisor to President Donald Trump, raised $300 million to create a publicly traded Bitcoin (CRYPTO: BTC) investment company, according to a report on Wednesday.

What Happened: The fundraising effort, which began in January, includes $200 million in equity funding and $100 million in convertible debt, CNBC reported, citing sources familiar with the matter.

The new company, named Nakamoto in honor of the pseudonymous creator Satoshi Nakamoto, will focus on acquiring and holding Bitcoin. Nakamoto is expected to merge with an existing Nasdaq-listed company, with an announcement likely to be made early next week.

See Also: Bitcoin Taps $98,000, Ethereum, Dogecoin Steady As Fed Chair Jerome Powell Raises Trump Tariff-Induced Concerns: Analyst Says ETH Holding Above ‘Crucial Level’ And …

Full story available on Benzinga.com