Crypto Heavyweight David Bailey Secures $710M War Chest for Bitcoin Treasury Play

Bitcoin just got a $710 million vote of confidence—and Wall Street’s spreadsheet jockeys are scrambling to update their ’digital tulips’ PowerPoint decks. Former Fidelity exec David Bailey’s new Bitcoin treasury fund is betting big on institutional adoption, with backers including (of course) the usual suspect VC firms.

Why it matters: This isn’t your cousin’s crypto moon-shot—Bailey’s fund structures Bitcoin as a corporate reserve asset, the same way Fortune 500s hoard cash. The move signals growing mainstream acceptance, even if traditional finance still thinks blockchain is something you use to lock up bicycles.

The bottom line: When $700M flows into a Bitcoin vehicle without Elon Musk tweeting about it, maybe—just maybe—the ’institutional money coming soon’ narrative isn’t pure hopium after all.

Bitcoin Magazine reports that David Bailey, CEO of Nakamoto, has raised $710 million and merged with healthcare data firm KindlyMD to create a Bitcoin treasury-backed entity. The merger aims to strengthen Bitcoin’s position in the financial sector. Bailey, also a key cryptocurrency advisor to U.S. President Trump, plays a central role in this ambitious move to integrate Bitcoin with traditional industries and enhance its adoption in mainstream markets.