Closed form of continued fraction $[0; 1, 2, 4, 8, 16, ...]$

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I was looking at the continued fraction $\frac{1}{1 + \frac{1}{2 + \frac{1}{4 + ...}}} = \Large{\mathrm{K}}_{i=0}^\infty {\frac{1}{2^i}}$. Does it have a closed form using well-known functions?

It does not appear in this continued fraction constants list.