Trump Crypto Advisor David Bailey Aims to Raise $300M for Bitcoin Investment Venture
David Bailey, CEO of BTC Inc and a prominent cryptocurrency advisor to former President Donald Trump, is leading a $300 million fundraising initiative to launch a publicly-traded Bitcoin investment firm. The venture, which seeks to replicate the success of similar strategies, includes $200 million in equity and $100 million in convertible debt for acquisitions and strategic investments. This move underscores the growing institutional interest in Bitcoin and its potential as a mainstream financial asset. As of June 2025, Bailey's efforts highlight the continued bullish sentiment surrounding Bitcoin, with significant capital being mobilized to capitalize on its long-term growth prospects.
Trump Crypto Advisor David Bailey to Raise $300M for Bitcoin Investment Venture
David Bailey, CEO of BTC Inc and a key cryptocurrency advisor to former President Donald Trump, is spearheading a $300 million fundraising effort to establish a publicly-traded Bitcoin investment firm. The venture aims to mirror the success of similar investment strategies, with $200 million in equity and $100 million in convertible debt earmarked for acquisitions and strategic investments.
Bailey's firm, Nakamoto, is reportedly in merger talks with a Nasdaq-listed company, signaling a significant institutional push into Bitcoin. The MOVE underscores growing confidence in cryptocurrency as a mainstream asset class, particularly among politically connected financiers.
Bitcoin Dominance Nears Critical Resistance as Analysts Eye Altcoin Season
Bitcoin's market dominance has surged to 64.7%, testing a multi-year resistance level that historically precedes altcoin rallies. The unexpected climb marks a potential inflection point for cryptocurrency markets.
Analyst Gert van Lagen notes bearish technical signals forming in BTC.D charts, suggesting capital may soon rotate into alternative assets. This development aligns with cyclical patterns observed before previous altseasons.
The cryptocurrency market appears poised for a sector rotation, with traders watching for confirmation of Bitcoin dominance breaking down from its three-year uptrend. Such a move could unlock significant upside potential for major altcoins.
Bitcoin Investors Accelerate Profit-Taking Amid Price Surge
Bitcoin's rally to the mid-$90,000 range has triggered aggressive profit-taking among investors, mirroring behavior often seen in the late stages of a bull market. The 7-day moving average for net realized profit/loss peaked at $1 billion daily during Bitcoin's ascent to recent highs.
Despite a sharp correction between March and April 2025, profit-taking activity remained robust as prices recovered. CryptoQuant data reveals sustained positive metrics since early 2024, with analysts noting the current pattern resembles historical market top formations.
Arizona Establishes Bitcoin Reserve Fund with HB 2749, Following New Hampshire's Lead
Arizona has joined the growing list of states embracing cryptocurrency by launching its bitcoin reserve fund through House Bill 2749. The move comes just weeks after New Hampshire became the first state to create a BTC reserve with its passage of HB 302.
Governor Katie Hobbs signed the legislation on May 7, marking a strategic compromise after her veto of the more ambitious Arizona Strategic Bitcoin Reserve Act. The governor had expressed concerns about volatility in digital assets and their appropriateness for state retirement systems. HB 2749 addresses these concerns by limiting funding sources to unclaimed cryptocurrency, airdrops, and staking rewards rather than public funds.
"This scaled-back approach demonstrates how states can cautiously engage with digital assets while managing risk," observed Matthew Sigel, VanEck's Head of Digital Assets Research. The legislation represents a middle ground in the ongoing debate about public sector involvement in cryptocurrency markets.
Core Scientific Reports $580M Q1 Profit Despite Revenue Shortfall
Bitcoin miner Core Scientific posted a net profit of $580 million in Q1 2025, nearly triple the $210 million earned during the same period last year. The windfall contrasts sharply with an 8% revenue miss, as total income slid to $79.5 million against analyst expectations.
Self-mining operations drove 84% of quarterly revenue at $67.2 million, while hosted mining and colocation services contributed just $12.4 million combined. The decline follows Bitcoin's April 2024 halving event, which compressed mining yields across the industry.
Bitcoin Nears $100K as Trump Prepares to Announce UK Trade Deal
Bitcoin's price surged toward the $100,000 mark as speculation grew around a potential trade deal between the U.S. and the UK. President Donald TRUMP hinted at the agreement in a May 7 social media post, triggering bullish momentum in the cryptocurrency market.
The flagship cryptocurrency climbed from $97,759 to $99,140 following Trump's announcement, with traders anticipating a breakout beyond the psychological $100,000 threshold. Market participants attributed the rally to macroeconomic Optimism stemming from the pending trade agreement.
