Nakamoto Holdings, KindlyMD Merge to Form $710M Bitcoin Treasury

Nakamoto Holdings, a holding company co-founded by Bitcoin Magazine CEO David Bailey, has entered into an agreement with healthcare firm KindlyMD to form a new Bitcoin treasury. The companies announced this merger on Monday, aiming to create a global network of Bitcoin treasury companies to accelerate Bitcoin adoption and utility.

To fund the new treasury, the companies raised a total of $710 million. This includes $510 million through private investment in public equity and $200 million in convertible notes. The transaction attracted over 200 investors, including Actai Ventures, Arrington Capital, and BSQ Capital Partners.

David Bailey, who advised President Trump on his 2024 crypto policy during the Republican's campaign, will serve as the CEO of the new Bitcoin treasury. Bailey expressed his vision for the future, stating, "The securitization of Bitcoin will redraw the world's economic map. We believe a future is coming where every balance sheet—public or private—holds Bitcoin."

KindlyMD, a healthcare company with no prior connection to the crypto space, will continue to focus on its mission of combating the opioid crisis through innovative, holistic health services. Bitcoin treasury companies are firms that buy and hold the biggest cryptocurrency by market cap. Nasdaq-listed Strategy, formerly MicroStrategy, became the first major company to label itself as a Bitcoin treasury.

Strategy pivoted its focus from software in 2020 and now offers investors an avenue for gaining exposure to the asset without purchasing Bitcoin itself. Last month, crypto and financial services giants Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group announced plans to launch Twenty One, a publicly traded, Bitcoin-centric company with a treasury of more than 42,000 BTC.

This merger between Nakamoto Holdings and KindlyMD signifies a significant step in the integration of Bitcoin into traditional financial structures. The formation of a global network of Bitcoin treasury companies is expected to enhance the adoption and utility of Bitcoin, aligning with the vision of a future where Bitcoin is a standard asset on every balance sheet.