Who is David Bailey? Trump’s ally, whose fund reportedly delivered 640% returns
Main Idea
David Bailey, a key ally of Donald Trump and CEO of BTC Inc, has significantly influenced Trump's pro-crypto stance, while his fund, 210k Capital, achieved a 640% return by investing in Bitcoin-linked companies.
Key Points
1. David Bailey's 210k Capital reported a 640% return in 12 months, with $433 million in assets under management as of June 30.
2. Bailey played a pivotal role in persuading Trump to support cryptocurrencies, notably during the July 2024 Bitcoin conference in Nashville.
3. 210k Capital specializes in investing in Bitcoin treasury companies, such as The Smarter Web Plc, which saw a 14,000% surge in shares.
4. Eric Trump serves on the advisory board of Metaplanet Inc, a Bitcoin proxy company where Bailey also holds an advisory role.
5. Trump's pro-crypto stance, influenced by Bailey, includes plans to make the US a leader in cryptocurrency and open retirement markets to crypto investments.
Description
David Bailey, a central figure behind US President Donald Trump’s recent embrace of cryptocurrencies, has turned his hedge fund into one of the biggest winners of the post-Trump crypto surge. Bailey’s 210k Capital posted a net return of 640% in the 12 months through June, as per a Bloomberg report, primarily by backing publicly traded
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