Is David Bailey About To Spend A Jaw-Dropping $1 Billion On Bitcoin? Here’s What We Know
Posted On August 12, 2025
David Bailey, the CEO of Bitcoin (CRYPTO: BTC) treasury company Nakamoto Holdings Inc., created a buzz on Monday by announcing a $1 billion BTC purchase.
What’s The Truth Behind?
Bailey, known for his role as CEO of Bitcoin Magazine and as a Bitcoin advisor to President Donald Trump, said in an X post that he is going to fulfill his dream of “smash buying $1 billion of Bitcoin in a single bid.”
While the $1 billion figure caused a stir, it eventually turned out to be a case of engagement farming. In a follow-up statement, Bailey clarified that the actual amount is around $760 million, and that he did some “generous rounding.”
The rhetorical statement did not amuse X users, with many blasting Bailey for being unserious.
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