Trump's Advisor to Invest $762 Million in Bitcoin
In an ambitious move, David Bailey, President Trump's adviser and CEO of Bitcoin Magazine, is planning to acquire approximately $760 million worth of Bitcoin through his company Nakamoto Holdings. This purchase, to be executed using a Volume Weighted Average Price (VWAP) strategy, is part of Bailey's mission to position Nakamoto as one of the leading corporate holders of Bitcoin globally[1].
The VWAP strategy, as Bailey has outlined, involves breaking down this large Bitcoin purchase into smaller trades throughout the day. This approach tracks the volume-weighted average price of Bitcoin during the trading period, ensuring the purchase occurs at an average market price rather than all at once[1]. This method has several advantages:
- Minimizing price slippage: By executing the purchase in smaller trades, Bailey aims to reduce the adverse effect on Bitcoin's price caused by executing a large order instantaneously.
- Avoiding significant market disruption and sharp price fluctuations: A single large purchase can cause market volatility. By spreading the purchase over the day, Bailey hopes to prevent such disruptions and fluctuations.
- Blending buying activity smoothly with existing market volume: The VWAP strategy helps to preserve Bitcoin price stability by ensuring the purchase does not stand out from the normal market volume[1].
Bailey's initial acquisition of $760 million marks the beginning of a larger strategy to steadily build Nakamoto Holdings’ Bitcoin treasury without causing major impact on the market[1].
Bailey's goal extends beyond this acquisition. He aims to surpass Trump's ambition and make Bitcoin the most valuable asset in human history[1]. To achieve this, Bailey is actively pursuing wider adoption of Bitcoin with major industry players and political figures, with the ultimate aim of making the US the crypto capital of the world[2].
Previously, Bailey has stated that Bitcoin will become the most valuable asset in human history[3]. With this acquisition and his strategic approach, Bailey and Nakamoto Holdings are taking significant steps towards realizing this vision.
[1] Source: Bitcoin Magazine [2] Source: CoinDesk [3] Source: Forbes
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