A key architect of the lobbying campaign that transformed Donald Trump into a powerful advocate for cryptocurrency has made a remarkably profitable investment in one of the industry’s most speculative areas. David Bailey and his 210k Capital hedge fund achieved a net return of 640% in the 12 months leading up to June.
It was achieved by investing in approximately a dozen companies that began purchasing Bitcoin, according to a source familiar with the situation. This performance significantly surpassed the gains in Bitcoin itself. As of June 30, the fund’s assets under management (AUM) totalled $433 million.
lol. Gm pic.twitter.com/3rWLbNNM60
— David Bailey $1.0mm/btc is the floor (@DavidFBailey) July 18, 2025
David Bailey Orange-Pilled The President Before Hitting 640% Gains For His 210k Hedge Fund
Bailey, whom Trump has publicly credited for helping shift his perspective from Bitcoin skeptic to advocate, is part of a growing list of crypto executives who have benefited from the boom sparked by Trump’s presidential election victory. Trump’s pro-industry agenda has propelled Bitcoin to record highs and ignited a wave of businesses eager to become proxies for the original token—something 210k Capital has successfully capitalized on.
The fund achieved this by investing in publicly traded companies and encouraging firms across diverse sectors, from hospitality to web design, to start accumulating Bitcoin. One notable investment was in The Smarter Web Plc, based in Guildford, UK, which has reportedly generated a staggering return of approximately 14,000%.
While Bailey’s strategy has yielded impressive results, it involves a level of risk that differs markedly from typical hedge fund approaches.
Smarter Web completed its initial public offering on London’s Aquis Stock Exchange in April to raise funds for purchasing Bitcoin. After securing a combined £2.1 million ($2.8 million) through a pre-IPO round and the public offering, Smarter Web’s shares surged in value.
Smarter Web has accumulated 1,600 Bitcoin, which is worth approximately $190 million. However, the company’s share price highlights the risks associated with 210k Capital’s strategy: the stock has dropped about 55% from its peak on June 20.
210k Capital invested £780,000 in the pre-IPO funding round, during which it also received stock warrants, according to Smarter Web’s Chief Executive Officer, Andrew Webley. The fund’s 15% stake is now valued at nearly £110 million.
While these crypto treasury stocks have proven highly lucrative for some investors, they have also shown significant volatility. For example, shares of Ether-focused SharpLink Gaming Inc.
($SBET) plummeted about 70% on June 13 following what Chairman Joseph Lubin described as a routine filing. However, it should be noted that SBET has since rebounded and is up nearly 300% from those mid-June lows.
(SOURCE)
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Trump’s Ties To Bailey Kicked Off At Tennessee Bitcoin Conference In July 2024
At a July 2024 Bitcoin conference in Nashville, Tennessee, Trump took the stage and pledged his support for the cryptocurrency industry, marking a significant moment for the field.
During that speech, the now-President expressed his ambition to make the United States “the world’s crypto capital” and specifically recognized Bailey for his role in lobbying on behalf of the presidential candidate. “So David, congratulations, whatever you do, you did a wonderful job,” Trump remarked. Earlier, Bailey had urged other crypto enthusiasts to help raise $100 million for the Trump campaign.
Bailey’s connections to the presidential family extend beyond his support for Trump. The president’s son, Eric, is a member of the newly established Strategic Board of Advisors for Metaplanet Inc. This Japanese hotelier-turned-Bitcoin proxy is among 210k Capital’s largest investments, representing about a quarter of its portfolio. Bailey serves on Metaplanet’s advisory board as well.
Metaplanet, which previously operated a chain of hotels in Japan, was one of the first companies to adopt the model pioneered by Michael Saylor, whose strategy now holds approximately $70 billion worth of Bitcoin. Since announcing its plans to become a Bitcoin accumulator in April 2024, Metaplanet’s stock has surged by about 9,400%.
210k Capital paid $1 million to purchase warrants from a Metaplanet shareholder around that time and later exercised those warrants for common stock, according to Evans. The investment is now worth approximately $106 million, he added. Before Metaplanet’s strategic shift, 210k Capital’s total assets under management stood at just $44 million, as reported by Evans.
To assist Metaplanet with its transition, a UTXO employee was embedded with the company and worked closely with CEO Simon Gerovich. “I don’t think we can take sole credit for the idea,” Evans stated regarding Metaplanet’s change in strategy. “But we pushed for it very strongly and made a compelling case.”
*Appointment of David Bailey to Strategic Board of Advisors* pic.twitter.com/IWHVaSCKuW
— Metaplanet Inc. (@Metaplanet_JP) April 30, 2025
Other Notable Moves By David Bailey Within The Crypto World
Bailey is also the CEO of Nakamoto Holdings Inc., a Bitcoin treasury company that announced a merger with the healthcare services firm Kindly MD Inc. in May. Kindly MD has raised about $760 million through equity and convertible note sales for its Bitcoin portfolio, according to a statement released in June.
At the time of the merger announcement, Bailey stated that Nakamoto, named after Bitcoin’s anonymous inventor, would use Bitcoin to acquire public companies worldwide and convert them into treasury vehicles.
210k Capital is now looking at markets without spot Bitcoin exchange-traded funds, such as India, South Korea, and countries in Southeast Asia and Latin America. “These are all opportunities we’re very enthusiastic about, and we hope to announce a deal soon,” Evans commented.
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