Nakamoto CEO Plans $760M Bitcoin Purchase in Single Bid
David Bailey, CEO of Nasdaq-listed Bitcoin firm Nakamoto, announced a single bid to purchase $760 million of Bitcoin after a two-week social-media countdown that initially targeted $1 billion. The funding comes from Nakamoto’s recent merger with Nasdaq-listed KindlyMD and $710 million in capital commitments. Execution details—whether via an over-the-counter desk, block trade, or exchange order—remain unconfirmed, sparking speculation about slippage, counterparties, and market impact. The Bitcoin purchase echoes MicroStrategy’s strategy to build corporate reserves. With BTC trading around $119,200, traders are closely watching liquidity, volatility, and disclosures on custody and funding ahead of the block trade.
Bullish
A $760 million Bitcoin purchase order by a Nasdaq-listed firm represents a significant institutional demand event likely to support Bitcoin’s price. In the short term, absorbing this volume via an OTC or block trade could tighten liquidity and spur upward price pressure or heightened volatility around execution. Over the longer term, the move underscores growing corporate adoption of Bitcoin, reinforcing bullish sentiment as companies mirror MicroStrategy’s strategy of building large treasury reserves. Traders will watch execution details and disclosures for further bullish or bearish signals.