Daily Digest: New Bitcoin Treasury Emerges with Over $700 Million in Assets
In a groundbreaking move, Utah-based healthcare provider KindlyMD (NASDAQ: NAKA) has completed its merger with Bitcoin-native holding company Nakamoto Holdings, forming a publicly traded company on Nasdaq under the KindlyMD name (ticker: NAKA). The merged company, now led by CEO David Bailey, aims to accumulate one million Bitcoin as part of its long-term Bitcoin treasury strategy.
The merger, which took place in August 2025, saw Nakamoto operating as a wholly owned subsidiary focused on Bitcoin financial services. Following the merger completion, KindlyMD acquired approximately 5,744 Bitcoin at an average price of about $118,204 per Bitcoin, spending around $679 million from funds raised via a private placement in public equity (PIPE) and a $200 million convertible note offering.
CEO Bailey emphasized Bitcoin as the ultimate reserve asset for corporations and institutions, expressing confidence in its role in anchoring global finance. The funds raised will be primarily allocated for Bitcoin purchases and general corporate purposes. The company’s leadership and board were expanded to support this dual focus on healthcare services and Bitcoin treasury management.
If achieved, Nakamoto's goal of accumulating 1 million BTC could rekindle the "great Bitcoin arms race." The company aims to establish Bitcoin as a corporate and institutional reserve asset and promote a Bitcoin standard in global capital markets. This merger represents a strategic effort to combine healthcare operations with a robust Bitcoin treasury vehicle to drive long-term value and adoption of Bitcoin globally.
The market has responded positively to the merger news, with NAKE up 100% on the week to $15. The merger raised roughly $540 million through PIPE financing and expected closing of a $200 million convertible note, with these funds primarily allocated for Bitcoin purchases and general corporate purposes.
David Bailey, co-founder and CEO of BTC Inc, will take helm as CEO of the new Nakamoto. The merged company, now named Nakamoto, will pivot from healthcare to an institutional-grade Bitcoin treasury play. The acquisition of Bitcoin reflects their commitment to building a disciplined and substantial Bitcoin reserve.
[1] KindlyMD Press Release, "KindlyMD Completes Merger with Nakamoto Holdings," August 2025. [2] CoinDesk, "KindlyMD-Nakamoto Merger: What You Need to Know," August 2025. [3] Forbes, "KindlyMD-Nakamoto Merger: A Game-Changer for Bitcoin and Healthcare," August 2025. [4] Bloomberg, "KindlyMD-Nakamoto Merger: A New Era for Bitcoin and Healthcare," August 2025. [5] Yahoo Finance, "KindlyMD-Nakamoto Merger: The Future of Bitcoin and Healthcare," August 2025.
- The merger between KindlyMD and Nakamoto Holdings has positioned the combined company to accumulate one million Bitcoin, making a significant move in the crypto volatility market.
- This long-term Bitcoin treasury strategy, led by CEO David Bailey, has already seen KindlyMD acquire approximately 5,744 Bitcoin, spent around $679 million from funds raised viaprivate placement in public equity (PIPE) and a convertible note offering.
- Bitcoin, as the ultimate reserve asset, will play a crucial role in anchoring global finance according to CEO Bailey, whoemphasized this confidence in its role in the merged company's goals.
- The funds raised will primarily be allocated for Bitcoin purchases and general corporate purposes, with the aim of establishing Bitcoin as a corporate and institutional reserve asset and promoting a Bitcoin standard in global capital markets.
- The merger, now named Nakamoto, has pivoted from healthcare to an institutional-grade Bitcoin treasury play, with the acquisition of Bitcoin reflecting their commitment to building a disciplined and substantial Bitcoin reserve.
- The merger of KindlyMD and Nakamoto Holdings represents a strategic effort to combine healthcare operations with a robust Bitcoin treasury vehicle, with the potential to drive long-term value and adoption of Bitcoin globally.
- The market has responded positively to this merger, with Nakamoto's ticker (NASDAQ: NAKA) up 100% on the week to $15, reflecting investor excitement for this digital asset venture.
- The emergence of this new institutional-grade Bitcoin treasury play could have far-reaching implications for the crypto market, potentially rekindling the "great Bitcoin arms race" and driving the adoption of crypto, NFTs, web3, stablecoin, and other technology-driven innovations in the finance sector.
