David Bailey’s Bitcoin treasury play Nakamoto acquires BTC Inc and UTXO Management
Nakamoto, David Bailey's bitcoin treasury firm, is acquiring BTC Inc. and UTXO Management in an all-stock transaction valued over $107 million.Summary
Nakamoto, the bitcoin treasury company founded by David Bailey, has agreed to acquire BTC Inc., the owner of Bitcoin Magazine and The Bitcoin Conference, along with UTXO Management. This strategic move, described by Bailey as part of Nakamoto's vision, aims to build a portfolio spanning media, asset management, and advisory services that can scale with Bitcoin's growth. The acquisition is an all-stock transaction, valuing the deal at over $107 million based on a fixed price of $1.12 per share for BTC Inc. and UTXO shareholders, paid in NAKA common stock. The move is expected to provide recurring earnings and help Nakamoto expand beyond its initial capital market niche, amid anticipated consolidation among Bitcoin Treasury Companies (DATs). Bailey confirmed the company has no intention of selling its Bitcoin holdings unless Bitcoin trades down to $8,000 for five consecutive years.
(Source：The Block)