PANews reported on May 7 that according to The Information, people familiar with the matter revealed that David Bailey, who advised Trump on cryptocurrency policy during his 2024 campaign, is raising $300 million to set up a publicly traded Bitcoin investment company. He follows a series of companies that have acquired cryptocurrencies in an attempt to replicate the success of Michael Saylor's strategy. Bailey plans to raise $200 million through private placement of new shares and $100 million through convertible bonds.