Trump’s Bitcoin mentor bet on BTC treasury strategies — and his wealth is exploding
Main Idea
David Bailey, a key figure in turning Donald Trump into a crypto supporter, has seen significant financial success through his hedge fund 210k Capital, which focuses on Bitcoin-linked investments.
Key Points
1. David Bailey played a pivotal role in shifting Donald Trump's stance on cryptocurrencies from skepticism to vocal support.
2. 210k Capital, Bailey's hedge fund, achieved a 640% net return in 12 months through June, driven by Bitcoin-linked investments.
3. The fund's parent company, UTXO Management, has investments in several Bitcoin-related firms, including MicroStrategy and Metaplanet.
4. Bailey's influence extends across the digital asset ecosystem, with his firm Nakamoto Holdings raising $300 million and exploring a public offering.
5. Public companies currently hold 868,709 BTC on their balance sheets, while private firms hold an additional 292,355 BTC.
Description
David Bailey played a key role in transforming US President Donald Trump from a crypto skeptic into a vocal supporter. Now, he’s reaping the rewards.
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