A shocking merger was announced on May 12, 2025: Nakamoto Holdings Inc., a Bitcoin-focused investment company founded by David Bailey, has merged with KindlyMD, Inc. – a healthcare service provider based in Utah and listed on Nasdaq with the stock code KDLY.
Creating a public company specialized in the “Bitcoin Treasury” strategy
After the merger, the new company will maintain its public listing status on #NASDAQ and focus on building the “Bitcoin Treasury” strategy – a groundbreaking financial approach that turns Bitcoin into a core asset in financial products such as stocks, bonds, preferred shares, and new hybrid structures.
To realize this ambition, the deal has raised 710 million USD, including:
510 million USD from the private placement of shares at a price of 1.12 USD/share (PIPE).
200 million USD from secured convertible bonds, maturing in 2028.
“Nakamoto”: Ambition to become the Morgan or Goldman of the Bitcoin era
David Bailey – the founder of BTC Inc. and #Nakamoto – will serve as the CEO of the merged company. He expressed ambitious statements:
“Nakamoto is the first public listed corporation designed to bring Bitcoin to the center of the global capital markets. Names like Medici, Rothschild, Morgan once wrote the history of finance – now it's Nakamoto's turn.”
Over 200 global investors have invested
The deal #PIPE attracted over 200 investors globally, including:
Major funds such as: Actai Ventures, Arrington Capital, BSQ Capital, ParaFi, VanEck, Yorkville Advisors,...
Prominent individuals include: Adam Back, Balaji Srinivasan, Jihan Wu, Danny Yang, Ricardo Salinas, CEO of Metaplanet Simon Gerovich, CEO of Semler Scientific Eric Semler.
Among these, Yorkville Advisors through the fund YA II PN, Ltd. is the sole buyer of all 200 million USD convertible bonds.
A model combining healthcare and finance?
While Nakamoto operates the finance sector – particularly running the “Bitcoin Treasury,” KindlyMD will continue to operate its system of 4 medical clinics in Utah, specializing in pain management and mental health. This model is maintained to reduce dependence on painkillers (opioids) – a public health issue in the U.S.
The board of directors of the new company will consist of 6 members appointed by Nakamoto, and 1 member from KindlyMD. The current stock code KDLY will remain unchanged until the new code is announced.
Connecting with the crypto market:
This deal marks a significant turning point in making Bitcoin a mainstream asset in the global public financial system. If successful, Nakamoto could become the “first Bitcoin-linked financial empire,” setting a precedent for a series of other organizations around the world – including investors using Binance – to access Bitcoin-linked financial products in a more understandable and transparent manner.
Risk warning: The cryptocurrency market always carries significant volatility and legal risks. Investing in stocks or financial products related to Bitcoin requires investors to have knowledge, strategy, and readiness to face market fluctuations. Please consider carefully before participating.