David Bailey Tries to Revive Nakamoto's Bitcoin Reserve Business After 99% Stock Crash

David Bailey, a bitcoin entrepreneur and ally of Donald Trump, is attempting to revive his crypto reserve business. His firm Nakamoto merged and went public in May 2025 after raising approximately $760 million to build a bitcoin reserve. Its hedge fund strategy once achieved a 640% return. However, Nakamoto's stock has plunged about 99% from its peak, reflecting the broader collapse of digital asset treasury companies. Bailey is now trying to prove the business can be sustainable without a bitcoin premium, and said he remains in irregular contact with the White House.