Bitcoin News Today: KindlyMD Merges with Nakamoto to Build 1 Million Bitcoin Treasury

David Bailey’s Bitcoin-focused firm, Nakamoto, has officially completed its merger with KindlyMD, a move that consolidates the healthcare company’s transformation into a publicly traded Bitcoin treasury vehicle. The newly formed entity will continue trading under the Nasdaq ticker NAKA and retain the KindlyMD name, with Nakamoto functioning as a wholly owned subsidiary [1]. The deal marks a significant step in the growing trend of corporate Bitcoin adoption, as the combined company now sets out to accumulate one million Bitcoin [2].

Bailey, who has long been a vocal proponent of Bitcoin, now serves as CEO and Chairman of the merged entity. KindlyMD’s former CEO, Tim Pickett, will transition to the role of Chief Medical Officer, overseeing the company’s healthcare operations [3]. The board of directors has also been expanded with notable additions such as Eric Weiss, founder of Bitcoin Investment Group, and Mark Yusko, CEO of Morgan Creek Capital Management [4].

The merger was financed through a $540 million private placement in public equity (PIPE), a portion of which will be allocated to the purchase of Bitcoin. In addition, a $200 million convertible note offering is expected to close shortly, further fueling the company’s treasury ambitions [5]. At current market prices, the company could acquire approximately 4,544 Bitcoin with the proceeds, according to BitBo’s Bitcoin Treasuries dashboard [6].

Bailey described the merger as the beginning of a broader vision: for global capital markets to eventually operate on a Bitcoin standard. “Our vision is for the world’s capital markets to operate on a Bitcoin standard,” he said, emphasizing the strategic move to position the company as a leader in institutional Bitcoin adoption [7].

The merger has already driven a significant stock price rally, with NAKA shares surging 13.4% following the announcement. Since the initial merger announcement on May 12, the stock has seen a triple-digit price increase, reflecting strong market sentiment toward Bitcoin-backed corporate treasuries [8].

The deal also includes a strategic partnership with BTC Inc, the parent company of Bitcoin Magazine, which provides marketing services to Nakamoto. However, the primary objective remains the accumulation of Bitcoin and the development of products to support corporate and government adoption [9].

KindlyMD, despite its new focus, currently holds just 21 Bitcoin. However, with the substantial capital raised, the company is expected to rapidly build a significant Bitcoin reserve. If it acquires 4,544 Bitcoin, it would join the ranks of the top 20 Bitcoin treasury firms in terms of total holdings [10].

The move reflects a broader industry trend where over 200 companies have established Bitcoin-only corporate treasuries, signaling growing institutional confidence in the cryptocurrency as a store of value [11]. Companies such as Michael Saylor’s MicroStrategy and others have also set ambitious acquisition targets, further increasing demand for Bitcoin and driving up its institutional appeal [12].

With its clear corporate strategy and experienced leadership, the newly merged KindlyMD is well-positioned to play a pivotal role in the ongoing integration of Bitcoin into global capital markets.

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Source:

[1] Cointelegraph - [https://cointelegraph.com/news/nakamoto-kindlymd-close-merger-start-bitcoin-treasury](https://cointelegraph.com/news/nakamoto-kindlymd-close-merger-start-bitcoin-treasury)

[2] Bitcoin Magazine - [https://bitcoinmagazine.com/business/kindlymd-nakamoto-officially-merge-plans-to-buy-one-million-btc](https://bitcoinmagazine.com/business/kindlymd-nakamoto-officially-merge-plans-to-buy-one-million-btc)

[5] AInvest - [https://www.ainvest.com/news/bitcoin-news-today-kindlymd-completes-merger-nakamoto-buy-1-million-bitcoin-2508/](https://www.ainvest.com/news/bitcoin-news-today-kindlymd-completes-merger-nakamoto-buy-1-million-bitcoin-2508/)

[6] BitBo’s Bitcoin Treasuries dashboard

[10] BitBo’s Bitcoin Treasuries dashboard

[11] X (The Block) - [https://x.com/TheBlock__/status/1956100769305801089](https://x.com/TheBlock__/status/1956100769305801089)

[12] Publicly available data on corporate Bitcoin holdings