Bitcoin News Today: A Healthcare Giant Bets $740M to Build a Bitcoin Empire

KindlyMD, a publicly traded company that merged with Nakamoto Holdings to form a Bitcoin treasury vehicle, has announced the purchase of 5,744 BTC, further expanding its digital asset holdings. This acquisition is part of a broader strategy to integrate Bitcoin into corporate treasury management, a trend that has gained momentum in recent years. The company raised $540 million through a private placement in public equity (PIPE) and an additional $200 million via a convertible note offering, with proceeds allocated toward Bitcoin purchases and general corporate purposes [2].

The merger between KindlyMD and Nakamoto Holdings, finalized in August 2025, marks a significant shift in the company’s operations. KindlyMD, previously a healthcare services provider, has repositioned itself as a dual-focused entity that combines traditional healthcare delivery with a Bitcoin treasury strategy. The newly formed company, retaining the ticker symbol NAKA, is led by David Bailey, CEO of the merged entity, who has been a vocal advocate for Bitcoin adoption for over a decade. Bailey emphasized that the company’s goal is to build a premier institutional-grade Bitcoin treasury vehicle, aiming to acquire one million Bitcoin over time [2].

This move aligns with a growing trend among public companies to hold Bitcoin as part of their corporate treasuries. As of August 2025, 168 public companies have adopted this strategy, with Strategy (formerly MicroStrategy) leading the pack with a holdings of 629,376 BTC, valued at over $73 billion [3]. Other notable companies include Block and Tesla. The shift toward corporate Bitcoin holdings reflects a growing institutional confidence in the cryptocurrency’s potential as a long-term store of value and hedge against traditional market volatility [3].

The financial mechanics behind these purchases vary. Strategy, for instance, has funded its Bitcoin purchases through the issuance of convertible debt, a model that has seen its stock appreciate over 2,700% since 2020. KindlyMD is following a similar path, having secured both equity and debt financing to finance its treasury expansion. The company has also appointed a new leadership team and added six new board members, including industry veterans with expertise in Bitcoin, blockchain, and capital markets [2].

While the trend of corporate Bitcoin treasury management is gaining traction, some experts have expressed caution. Austin Campbell, founder of Zero Knowledge Group, has drawn parallels between the current Bitcoin treasury strategy and the pre-2008 financial crisis mortgage-backed securities bubble. He warned that many digital asset treasury firms may be relying on continued price appreciation to remain solvent, a risk that could become problematic if Bitcoin experiences a sharp downturn. However, unlike traditional financial instruments, Campbell noted that digital asset treasuries are not systemic enough to trigger a broader economic crisis [5].

Despite these concerns, the market has responded positively to the growing institutional adoption of Bitcoin. The cryptocurrency has seen a 32% price increase in 2025, reaching record highs, partly due to regulatory clarity under the Trump administration and broader institutional interest. As companies like KindlyMD continue to expand their Bitcoin holdings, the market is likely to see further integration of the digital asset into corporate finance and capital strategies [4].

Source: [1] Kindly MD (KDLY) Stock Price, News & Analysis (https://www.marketbeat.com/stocks/NASDAQ/KDLY/) [2] KindlyMD Completes Merger with Nakamoto to Establish ... (https://nakamoto.com/update/kindlymd-completes-merger-with-nakamoto-to-establish-bitcoin-treasury) [3] Bitcoin Treasury KindlyMD Closes $200 Million Raise to Buy ... (https://finance.yahoo.com/news/bitcoin-treasury-kindlymd-closes-200-221144566.html) [4] Dutch crypto firm Amdax aims to launch Bitcoin treasury ... (https://www.reuters.com/business/dutch-crypto-firm-amdax-aims-launch-bitcoin-treasury-company-euronext-2025-08-18/) [5] Expert Sees The Bitcoin And Ethereum Treasury Company ... (https://finance.yahoo.com/news/eventually-theres-going-problem-expert-123124500.html)