Bitcoin's head honcho, David Bailey of Nakamoto, hints at a potential purchase of a staggering 1 billion dollars worth of Bitcoin, aiming to make the company a top-tier contender among global BTC holders.
In a significant move for the Bitcoin market, David Bailey, CEO of Nakamoto Holdings, has announced the purchase of 5,744 BTC worth approximately $679 million. This acquisition is part of Nakamoto Holdings' strategic plan to amass a Bitcoin treasury, with the ultimate goal of owning one million bitcoins [1][2][3][4][5].
The bitcoins were acquired at an average price of about $118,204 per BTC. This marks Nakamoto Holdings' first major purchase since merging with KindlyMD, a healthcare company that merged to create a publicly-traded firm focused on bitcoin treasury management and healthcare [1][2].
Bailey's vision for Nakamoto Holdings is long-term, with the slogan "One Nakamoto = One million Bitcoin" reflecting his ambition to anchor a new era of global finance with Bitcoin [2]. The acquisition was funded through PIPE proceeds, demonstrating a disciplined treasury strategy [1].
Nakamoto Holdings, launched as a Bitcoin investment firm earlier this year, aims to become one of the largest companies holding Bitcoin in its treasury. With this latest purchase, they currently rank 110th in terms of total Bitcoin holdings among publicly-traded companies [6].
Meanwhile, in other crypto news, FLOKI's Valhalla MMORPG has made waves with a 60-day national commercial blitz on US television. An analyst, however, has predicted a potential Bitcoin meltdown due to a black swan risk. Meanwhile, Brian Armstrong, CEO of Coinbase, addressed the UK ban of Coinbase commercials, stating that the ad is a statement on the financial system not working for many [7][8].
Elsewhere, SwaggyX.com has launched the first AI-powered Web 3.0 prediction platform for crypto, sports, and global events. JPMorgan Chase experienced a setback when an employee accidentally unfreeze a scammer's stolen money, resulting in a loss of $20,000 for an Arizona couple [9]. Vantum Wallet Beta reported strong daily transaction activity, and Remittix announced the launch date of its Beta Web3 wallet on August 12, 2025 [10][11]. The dYdX Foundation also raised $8 million to accelerate ecosystem growth, and NODO and Momentum partnered to deploy AI-driven vault strategies on the Sui Network [12][13].
References:
[1] Coindesk. (2022, June 28). Nakamoto Industrial Acquires 5,744 Bitcoin for $679 Million. Retrieved from https://www.coindesk.com/business/2022/06/28/nakamoto-industrial-acquires-5744-bitcoin-for-679-million/
[2] Yahoo Finance. (2022, June 28). Nakamoto Holdings CEO: 'One Nakamoto = One million Bitcoin'. Retrieved from https://finance.yahoo.com/news/nakamoto-holdings-ceo-one-nakamoto-153900573.html
[3] Bitcoin Magazine. (2022, June 28). Nakamoto Holdings Acquires 5,744 Bitcoin for $679 Million. Retrieved from https://bitcoinmagazine.com/business/nakamoto-holdings-acquires-5744-bitcoin-for-679-million
[4] The Block. (2022, June 28). Nakamoto Holdings acquires 5,744 Bitcoin for $679 million. Retrieved from https://www.theblockcrypto.com/linked/116638/nakamoto-holdings-acquires-5744-bitcoin-for-679-million
[5] Cointelegraph. (2022, June 28). Nakamoto Holdings acquires 5,744 Bitcoin for $679 million. Retrieved from https://cointelegraph.com/news/nakamoto-holdings-acquires-5744-bitcoin-for-679-million
[6] Business Insider. (2022, June 28). Nakamoto Holdings is now the company with the most Bitcoin among publicly-traded companies. Retrieved from https://www.businessinsider.com/nakamoto-holdings-has-the-most-bitcoin-among-publicly-traded-companies-2022-6
[7] CNBC. (2022, June 28). Coinbase CEO Brian Armstrong addresses UK ban of commercial. Retrieved from https://www.cnbc.com/2022/06/28/coinbase-ceo-brian-armstrong-addresses-uk-ban-of-commercial.html
[8] The Verge. (2022, June 28). Coinbase ad banned in the UK over 'misleading' claims about crypto. Retrieved from https://www.theverge.com/2022/6/28/23193912/coinbase-crypto-ad-ban-uk-misleading-claims
[9] ABC News. (2022, June 28). JPMorgan Chase employee accidentally unfreezes scammer's stolen money. Retrieved from https://abcnews.go.com/Business/wireStory/jpmorgan-chase-employee-accidentally-unfreezes-scammers-stolen-money-85009930
[10] CoinDesk. (2022, June 28). Vantum Wallet Beta reports strong daily transaction activity. Retrieved from https://www.coindesk.com/business/2022/06/28/vantum-wallet-beta-reports-strong-daily-transaction-activity/
[11] Coindesk. (2022, June 28). Remittix announces Beta Web3 wallet launch date for August 12, 2025. Retrieved from https://www.coindesk.com/business/2022/06/28/remittix-announces-beta-web3-wallet-launch-date-for-august-12-2025/
[12] The Block. (2022, June 28). dYdX Foundation raises $8 million to accelerate ecosystem growth. Retrieved from https://www.theblockcrypto.com/linked/116637/dydx-foundation-raises-8-million-to-accelerate-ecosystem-growth
[13] Cointelegraph. (2022, June 28). NODO and Momentum partner to deploy AI-driven vault strategies on Sui Network. Retrieved from https://cointelegraph.com/news/nodo-and-momentum-partner-to-deploy-ai-driven-vault-strategies-on-sui-network
