David Bailey, a key figure in converting former President Trump into a Bitcoin supporter, has executed a daring maneuver in the crypto investment space. His hedge fund, 210k Capital, achieved a remarkable 640% return over the past year by investing in small publicly traded companies transitioning to Bitcoin holdings.
Instead of directly investing in Bitcoin or ETFs, Bailey's team transformed unrelated industry companies into Bitcoin holding entities. A notable example is the UK-based Smarter Web, whose stock surged approximately 140-fold post-transition announcement.
210k Capital's assets under management soared from $44 million to $433 million and continue to grow. The biggest winners have been Metaplanet and Smarter Web. The fund made strategic pre-IPO investments in these companies, which have since skyrocketed in value. Metaplanet's stock has increased over 90-fold since April 2024.
Bailey, now an advisor to Metaplanet, works closely with Eric Trump and maintains a strong relationship with the Trump family. As crypto-friendly policies gain momentum, Bailey stands out as an aggressive market player.
Looking ahead, 210k Capital shows no signs of slowing down. Managing Partner Tyler Evans revealed plans to pursue 30 Bitcoin proxy transactions globally, targeting markets without Bitcoin ETFs, including India, South Korea, and Southeast Asia.
