David Bailey Plans Almost $1 Billion Bitcoin Buy This Week
David Bailey, a Bitcoin advocate who has advised US President Donald Trump on crypto policy, announced plans to buy $762 million worth of Bitcoin as early as Tuesday.
“Ever since getting into Bitcoin, I’ve always had this dream of smash buying $1 billion of Bitcoin in a single bid,” he said on Monday. “Tomorrow, that dream comes true.”
The amount would buy around 6,400 Bitcoin (BTC) at current market prices.
Bailey added that the purchase will use a Volume Weighted Average Price (VWAP) strategy, which breaks the large order into smaller trades to minimize slippage and market disruption, instead of a straight market…
