Bitcoin News Today: David Bailey's 210k Capital Earns 640% Return Investing in Bitcoin Adopters

David Bailey, a prominent figure in the cryptocurrency world and a close ally of former US President Donald Trump, has achieved remarkable success with his hedge fund, 210k Capital. The fund reported a net return of 640% over the 12 months through June, primarily by investing in publicly traded companies that have adopted Bitcoin as part of their balance sheets. This strategy has positioned 210k Capital as one of the top performers in the post-Trump crypto surge, with assets under management reaching $433 million as of June 30.

Bailey's influence extends beyond his investment acumen. As the CEO of BTC Inc and the frontman of Bitcoin Magazine and the annual Bitcoin Conference, he has played a pivotal role in shaping both political and market landscapes. Bailey is widely recognized for persuading Trump to embrace cryptocurrencies, a shift that was notably highlighted at the July 2024 Bitcoin conference in Nashville. During the event, Trump publicly praised Bailey, acknowledging his significant contributions to the crypto industry.

Bailey's ties to the Trump family are not limited to political lobbying. Eric Trump, the 's son, serves on the strategic advisory board of Metaplanet Inc, a Japanese company that has become a significant Bitcoin proxy. Bailey also sits on Metaplanet’s advisory board, further solidifying his influence in the crypto space. Additionally, BTC Inc co-hosted the “Inaugural Crypto Ball” in January, supporting Donald Trump’s incoming administration with tickets priced at $2,500.

Unlike traditional hedge funds, 210k Capital has specialized in investing in firms across various sectors, encouraging them to adopt Bitcoin as part of their treasury strategy. These firms often see massive rallies as they attract investor attention, effectively becoming Bitcoin proxy stocks. One of the fund's most successful investments was in The Smarter Web Plc, a UK-based firm that went public in April on the Aquis Stock Exchange. The company has since amassed 1,600 Bitcoin, worth approximately $190 million, and its shares have surged as much as 14,000% since February. 210k Capital invested £780,000 in the pre-IPO funding round, receiving stock warrants as part of the deal. The fund's 15% stake has since surged in value, now worth nearly £110 million.

Tyler Evans, 210k Capital’s managing partner, revealed that the fund is currently evaluating another 30 potential investments in Bitcoin-linked firms across various countries. These treasury-style Bitcoin plays now account for about 95% of the firm’s total assets. The broader resurgence in crypto markets, fueled in part by Trump’s vocal support, has further catalyzed a surge in Bitcoin prices and renewed investor enthusiasm in firms with crypto exposure. The gains come amid a broader resurgence in crypto markets, fueled in part by Trump’s vocal support of the industry. A pivotal moment came during the July 2024 Bitcoin conference in Nashville, where Trump declared his intention to make the US “the world’s crypto capital,” marking a dramatic shift from his earlier scepticism of digital assets. The president credited Bailey with influencing his stance, and Bailey had previously called on crypto supporters to help raise $100 million for Trump’s 2024 campaign.