Bitcoin News Today: KindlyMD Merges With Nakamoto Holdings to Build $740M Bitcoin Treasury

KindlyMD, a Utah-based healthcare provider, has officially completed its merger with Bitcoin-focused holding company Nakamoto Holdings, marking a pivotal transition from traditional healthcare to an institutional-grade Bitcoin treasury strategy. The newly merged entity, now trading under the ticker NAKA, has raised a total of $740 million in funding to accelerate its Bitcoin accumulation goals. This includes $540 million through a private investment in public equity (PIPE) financing and an additional $200 million through a convertible note offering [2]. The combined capital will be used to purchase Bitcoin, with the company aiming to amass 1 million Bitcoin in its corporate treasury [1].

David Bailey, co-founder of BTC Inc and newly appointed CEO of the merged entity, is a vocal Bitcoin advocate who envisions the cryptocurrency becoming the most valuable asset in human history [3]. Bailey emphasized that the merger represents a strategic move toward "rebuilding the world on the Bitcoin standard," aligning the company’s identity with a broader mission of Bitcoin adoption and treasury management [3]. His leadership is expected to drive KindlyMD’s transformation into a major player in the institutional Bitcoin space.

The $200 million convertible note offering is structured with 0% interest for two years, allowing the company to expand its Bitcoin holdings without immediate financial pressure [2]. This move builds on previous institutional strategies, such as those employed by MicroStrategy, where corporate entities used debt offerings to accumulate large Bitcoin reserves [3]. The market has responded positively to the shift, with the company’s stock price rising by 100% over the past week, closing at $15 per share [3].

The trend of corporate Bitcoin accumulation continues to gain traction, with KindlyMD joining a growing list of companies that view Bitcoin as a strategic reserve asset. If the company successfully acquires 1 million Bitcoin, it would surpass existing institutional holders, such as MicroStrategy and Strategic, who together hold approximately 629,000 Bitcoin [1]. The merger and subsequent fundraising efforts highlight the increasing institutional interest in Bitcoin as a long-term asset allocation strategy.

Source: [1] Morning Minute: Another $700M+ Bitcoin TreasuryCo Is Born (https://finance.yahoo.com/news/morning-minute-another-700m-bitcoin-122218744.html)

[2] Bitcoin treasury company Nakamoto finally completes merger with KindlyMD (https://ground.news/article/bitcoin-treasury-company-nakamoto-finally-completes-merger-with-kindlymd)

[3] KindlyMD and Nakamoto Holdings Complete Merger for ... (https://decrypt.co/news-explorer?pinned=1131007&title=kindlymd-and-nakamoto-holdings-complete-merger-for-700-million-bitcoin-treasury)