The post Crypto News: Trump’s Advisor to Acquire $762 Million Worth of Bitcoin appeared first on Coinpedia Fintech News
David Bailey, a prominent Bitcoin advocate and crypto adviser to US President Donald Trump, is planning a major Bitcoin purchase. He plans to acquire around $762 million worth of Bitcoin, approximately 6,400 BTC, through his company, Nakamoto Inc.
Trump Advisor Plans to Acquire $1 Billion Worth of Bitcoin
On early Tuesday, Bailey revealed his plan to purchase $762 million worth of BTC, potentially executing his long-standing ambition to make a substantial Bitcoin purchase. On Monday, he expressed his endeavor on X (formerly Twitter), saying, “Ever since getting into Bitcoin, I’ve always had this dream of smash buying $1b of bitcoin in a single bid. Tomorrow, that dream comes true.”
When asked if he truly planned to $1 billion in one go, Bailey said that the number was “generous rounding.” But now, showing an adjustment to his original intention, the final amount is slightly smaller than a billion.
How Will Bailey Buy the Bitcoins?
Bailey plans to execute the large purchase using a Volume Weighted Average Price (VWAP) strategy, instead of a direct market buy. This method will help break the purchase into smaller trades designed to minimize price slippage and avoid disruption to the market.
He also plans to position his company, Nakamoto, as one of the leading corporate holders of Bitcoin globally. He is aiming for wider adoption with major industry players and political figures.
Following his post of smashing $1 billion, Bailey made another statement, saying, “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. We’re building a Bitcoin juggernaut.”
Bitcoin: Most Valuable Asset in Human History
Both Trump and his advisor have been quite outspoken about their ambition with crypto. While the president is actively working to make the US the crypto capital of the world, Bailey is executing his plans to make Bitcoin the most valuable asset in human history.
He previously stated, “Bitcoin will become the most valuable asset in human history. Nakamoto’s strategy = get as many as you can, as fast as you can.”
