Nakamoto Holdings, launched by David Bailey, has entered into a merger deal with KindlyMD.
The agreement includes investments totaling $710 million.
The merged entity will retain KindlyMD's medical business but will also invest in bitcoin.
The ultimate goal of Nakamoto Holdings is to create a public network of investor companies in the first cryptocurrency.
The company Nakamoto Holdings, created by Donald Trump's advisor David Bailey, announced a merger with the medical firm KindlyMD. Its goal is to create a bitcoin treasury, for which $710 million was raised.
Information about the launch of Nakamoto Holdings appeared earlier in May 2025. Thus, Bailey plans to create a public network of companies with bitcoin treasuries through mergers and acquisitions.
Bailey is the CEO of the media group BTC Inc. He was also Trump's advisor on crypto assets during the 2024 election campaign. According to the release, he will also lead the new entity formed by the merger of Nakamoto Holdings and KindlyMD.
The deal includes private investments in public equity (PIPE) amounting to $510 million with participation from more than 200 investors. Among them are: Actai Ventures, Arrington Capital, BSQ Capital Partners, Kingsway, Off the Chain Capital, ParaFi, RK Capital, VanEck, and business angels.
An additional $200 million was raised through the issuance of convertible bonds. The purchaser of these securities is the YA II PN fund, managed by Yorkville Advisors.
All these funds will be directed towards increasing the company's bitcoin treasury and profitability per share.
The release emphasizes that KindlyMD will maintain its core business profile. At the same time, the company will invest in bitcoin under the patronage of Nakamoto Holdings.
"Traditional finance and bitcoin-based markets are converging. The securitization of the first cryptocurrency will reshape the economic map of the world. We believe a future is coming where every balance—government or private—will include bitcoins. Nakamoto aims to be the first publicly traded conglomerate to accelerate this process," said Bailey.
Shares of KindlyMD will continue to trade on the Nasdaq under the ticker KDLY. However, later, when the merger process is completed, the name of the merged company and the designation of the securities will change.
