Nakamoto Holdings Inc. has announced a merger with healthcare provider KindlyMD (NASDAQ: KDLY) in addition to the $200 million in senior secured convertible notes set to mature in 2028. This comes alongside a massive $710 million capital raise to launch a Bitcoin Treasury. The capital raise consists of $510 million raised through private placement in public equity (PIPE) at $1.12 per share.
This development positions the newly merged entity to aggressively pursue its Bitcoin treasury strategy while maintaining KindlyMD’s existing healthcare operations.
David Bailey, founder of BTC Inc. and Nakamoto Holdings, will assume the CEO role for the combined company. Meanwhile, Tim Pickett will continue overseeing KindlyMD’s healthcare business. The company operates four clinics throughout Utah, specializing in integrated medical services, pain management, and mental health care.
Transformation to Bitcoin-holding Powerhouse
The new organization is not the first to use this model. For example, Strategy, led by Michael Saylor, became a Bitcoin-holding behemoth. Nakamoto wants to use Bitcoin as a key part of its financial structure and invest in and buy companies worldwide.Â
The strategy varies in that it concentrates on raising “Bitcoin Yield per Share”. This means developing financial products that expose conventional investors to Bitcoin through well-known vehicles like debt and equity.Â
Several other corporations have recently announced plans to switch to Bitcoin treasury companies. Nakamoto’s development coincides with a resurgence of interest in institutional Bitcoin investment. This suggests a growing interest in Bitcoin among investors as both a capital allocation method and a store of wealth.Â
The company appears to be hoping to profit from this trend by establishing multiple channels for institutional capital to enter the Bitcoin market. Nakamoto may be able to provide conventional investors with a controlled and recognizable method of gaining exposure to cryptocurrencies. It aims to achieve this by creating a publicly traded company with sizeable Bitcoin shares.
Nakamoto’s ambitious strategy might represent the next step in the evolution of public firms’ engagement with digital assets. Institutional adoption continues to accelerate.
READ MORE: Jasmy Price Analysis: Is Jasmy Coin On the Verge of a Breakout?
