CEO says he will fulfill his dream of buying $1 billion in Bitcoin with one bid

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The NASDAQ-listed holding company launched a social media countdown this week, teasing a massive purchase that has attracted widespread attention across Crypto Surcles.

The company’s CEO posted that he plans to “purchase $1 billion in Bitcoin in a single bid,” and later revealed that the actual figure is close to $760 million.

The teaser follows the recent merger and funding round.

Countdowns cause speculation

According to David Bailey, CEO of Bitcoin native holding company Nakamoto, the countdown has been running for more than 14 days and extended to one day before the flagged execution window.

Based on the report, public messaging mixed Bravado with strategy. It first used the $1 billion headline figure, then adjusted to about $760 million, as filing and timing was revealed.

That gap – about $240 million – has become a focus for investors and commentators looking to analyse whether stunts are primarily marketing plans or solid trading plans.

Funding and Mergers

The report reveals that the company has reached its current public form after its merger with a company registered with NASDAQ, and that the total business has announced a commitment of up to $710 million to support its Bitcoin accumulation plan.

With the agreement, the group will access the open market and list under the new ticker, and sit next to other public companies that have a large amount of BTC on their balance sheet.

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Bitcoin is currently trading at $119,206. Chart: TradingView

I’ll be asking questions about execution

So far, it has not explained how nearly $760 million in purchases will be carried out or whether the company will use commercial desks, block transactions, or public orders.

That details are important. A single, large market order placed on an exchange can move prices and cause significant slips, but the off-exchange method is usually used to limit the market impact.

Observers are looking for any disclosures regarding trading partners, custody arrangements, or corporate funding sources.

Comparison and context

The CEO publicly praises well-known corporate Bitcoin buyers as role models, and he explicitly cited the key figures in the space as an impact on the company’s strategy.

The combination of public countdowns and large provisions combined has made the company’s planned accumulation a topic of discussion between investors and industry bulletin boards.

It remains unclear whether the move is primarily about the construction of the Treasury Department or to increase visibility of the newly publicly traded company.

Flickr featured images, TradingView charts

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