Exclusive
David Bailey, Who Advised Trump on Crypto, Plans Bitcoin Investing Firm
Bailey’s deal is the latest in a wave of Strategy copycats that raise money to invest in bitcoin.
David Bailey, who advised President Donald Trump on crypto policy during his 2024 campaign, is raising $300 million to launch a publicly traded bitcoin investing company, according to people familiar with the matter. He is following a string of companies that buy up crypto seeking to replicate the success of Michael Saylor’s Strategy, which converted itself into a bitcoin investment firm.
Bailey is raising $200 million through a private placement of new shares and $100 million in convertible debt for a small publicly traded company. The name of the company wasn’t disclosed. The money will be used to buy bitcoin, the people said.