# Done Deal: Nakamoto Closes $107M All-Stock Takeover of CEO David Bailey's BTC Inc. & UTXO

*Author: Jack Inabinet*
*Published: Feb 20, 2026*
*Source: https://www.bankless.com/read/news/done-deal-nakamoto-closes-107m-all-stock-takeover-of-ceo-david-baileys-btc-inc-utxo*

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David Bailey has consolidated his Bitcoin empire. After market close on Friday, Nakamoto Inc. (NAKA) announced that it had completed the $107M all-stock acquisition BTC Inc. and UTXO Management, bringing Bailey's media, capital, and advisory group under one publicly traded roof.

### What's the Scoop?
- **NAKA Acquisition:** Nakamoto Inc. –  a BTC treasury company – has completed its merger with BTC Inc. and UTXO Management. The transaction ([announced](https://www.bankless.com/read/news/nakamoto-to-acquire-david-baileys-crypto-empire-for-107m-all-stock-deal) February 17) transfered 363M NAKA to BTC Inc. and UTXO shareholders, nearly doubling the outstanding share count, and was expected to close sometime in the first quarter of 2026.
- **Investor Concerns: **David Bailey is Chairman and CEO of Nakamoto Inc., Chairman of BTC Inc., and General Partner of UTXO Management. Though the deal's all-stock nature somewhat ties Bailey's payout to NAKA's performance, some questioned whether shareholders' best interests were upheld by the deal, perceiving potential conflicts of interest given Bailey’s overlapping leadership roles.

> UPDATE: Nakamoto Completes Acquisition of BTC Inc and UTXO Management [pic.twitter.com/j9dER4TzEY](https://t.co/j9dER4TzEY)— Nakamoto (@nakamoto) [February 20, 2026](https://twitter.com/nakamoto/status/2024955235056161027?ref_src=twsrc%5Etfw)
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