ChainCatcher report: Donald Trump’s cryptocurrency ally and Bitcoin entrepreneur David Bailey is attempting to revive his cryptocurrency asset reserve business. In May 2025, Bailey’s company Nakamoto completed its merger and went public, having raised approximately $760 million to build a Bitcoin reserve; its hedge fund’s related strategy previously achieved returns of up to 640%. However, Nakamoto’s stock price has since plummeted about 99% from its peak, symbolizing the broader collapse of digital asset treasury companies, as investors have ceased paying a premium for Bitcoin exposure through publicly traded entities, leading to widespread valuation declines. Nevertheless, David Bailey is striving to demonstrate that Nakamoto can sustain a viable business model even without the Bitcoin premium and claims he continues to maintain periodic contact with the White House.
Nakamoto's Stock Plummets 99% Amid Bitcoin Wealth Fund Collapse
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Summary
Bitcoin news emerged as Nakamoto’s stock plummeted 99% following the collapse of its Bitcoin wealth fund. David Bailey, a Trump ally and Bitcoin entrepreneur, founded the company, which raised $760 million and went public in May 2025. Despite the crash, Bailey claims the business remains viable. Bitcoin analysis reveals declining investor interest in publicly listed digital asset funds. Bailey continues to engage with the White House.
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