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 worl...