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Nakamoto Holdings, a subsidiary of KindlyMD, has significantly increased its
holdings to 5,765 BTC following a major acquisition, marking a pivotal step in the company’s long-term strategy to amass one million BTC. The latest purchase was made at a weighted average price of $118,204.88, with the $679 million transaction funded by proceeds from a private placement in public equity (PIPE) that raised $540 million [2]. This acquisition brings KindlyMD’s total Bitcoin holdings to over $680 million in value [2].The move follows the successful merger between KindlyMD and Nakamoto Holdings, which was finalized on August 14, 2025, creating a publicly traded Bitcoin treasury vehicle under the ticker NAKA. The merger was structured to enable the combined company to leverage its healthcare operations alongside a robust Bitcoin treasury strategy [1]. David Bailey, CEO of the merged entity, emphasized the company’s commitment to Bitcoin as the “ultimate reserve asset for corporations and institutions alike,” aligning with its vision to integrate Bitcoin into global capital markets [2].
The acquisition was funded by the $540 million gross proceeds from the PIPE financing, which closed concurrently with the merger. The company also expects to close a $200 million convertible note offering, further solidifying its financial capacity to acquire Bitcoin at scale [3]. With these funds, KindlyMD aims to build a premier institutional-grade Bitcoin treasury, offering a transparent and strategic platform for corporate and institutional investors [1]. The company is also working to expand its product suite to facilitate broader Bitcoin adoption across corporate and government sectors [1].
The broader corporate Bitcoin treasury trend has gained momentum, with over 152 publicly traded companies now holding more than 950,000 BTC, valued at over $110 billion [6]. Michael Saylor’s Strategy, the pioneering company in this movement, recently added 430 BTC for $51.4 million, bringing its total holdings to 629,376 BTC valued at approximately $72 billion [4]. These large-scale acquisitions highlight the growing institutional confidence in Bitcoin as a strategic asset class, despite market volatility [4].
KindlyMD’s expanded Bitcoin holdings reflect a broader shift in corporate finance, where companies are increasingly viewing Bitcoin as a means to diversify treasury assets and hedge against inflation. As the market for corporate Bitcoin treasuries matures, financial intermediaries—such as custodians, brokers, and investment banks—are reaping substantial fees from the influx of corporate capital into the space [6]. Firms like BitGo and
are leading in custody services, while traditional Wall Street players such as and are underwriting equity and debt offerings to fund Bitcoin purchases.The company’s long-term objective is to position itself as a leading public market platform for Bitcoin treasury management, shaping corporate treasury strategies globally. This strategy aligns with the broader institutionalization of Bitcoin, where firms like Metaplanet and World Liberty Financial are also expanding their
portfolios [4]. The trend is not limited to U.S.-based companies; Japanese firms such as Lib Work Co. are exploring similar strategies to integrate Bitcoin into their balance sheets as a hedge against inflation and currency risks [7].KindlyMD’s acquisition reinforces its commitment to a data-driven and disciplined approach to Bitcoin treasury management, aligning with the growing consensus that Bitcoin is evolving from a speculative asset to a mainstream corporate reserve. The company’s leadership team, including Chief Investment Officer Tyler Evans, is focused on ensuring that the firm’s Bitcoin strategy is both scalable and aligned with global capital market trends [1]. As the corporate Bitcoin treasury landscape continues to evolve, companies like KindlyMD are at the forefront of a transformative shift in how institutions manage their financial reserves.
Source: [1] KindlyMD Completes Merger with Nakamoto to Establish ... (https://nakamoto.com/update/kindlymd-completes-merger-with-nakamoto-to-establish-bitcoin-treasury) [2] NAKA News: 5743.91 BTC Acquired (https://www.coindesk.com/markets/2025/08/19/kindlymd-naka-expands-bitcoin-treasury-with-usd679m-acquisition) [3] Bitcoin Treasury KindlyMD Closes $200 Million Raise to ... (https://decrypt.co/335709/bitcoin-treasury-kindlymd-closes-200m-raise-buy-btc) [4] Bitcoin Price Slides Below $115000 As Strategy And ... (https://bitcoinmagazine.com/markets/bitcoin-price-slides-below-115000-as-strategy-and-metaplanet-buys-additional-bitcoin) [5] Michael Saylor's Strategy Added $51M of Bitcoin Last Week (https://www.coindesk.com/markets/2025/08/18/michael-saylor-s-strategy-added-usd51m-of-bitcoin-last-week) [6] Who's Getting Rich Off The $100 Billion Crypto Treasury ... (https://www.forbes.com/sites/juliegoldenberg/2025/08/19/whos-getting-rich-off-the-100-billion-crypto-treasury-boom/) [7] Lib Work's Bitcoin Strategy: Corporate Treasury ... (https://www.onesafe.io/blog/lib-work-bitcoin-treasury-strategy) [8] How Does Strategy's Bitcoin Purchase Impact Corporate ... (https://www.onesafe.io/blog/business-lessons-strategys-bitcoin-acquisition)

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