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Nakamoto Holdings' Bitcoin reserve strategy raises $51.5 million
The Bitcoin holding company Nakamoto Holdings was founded by David Bailey, a crypto advisor to U.S. President Donald Trump. According to the announcement from merger partner KindlyMD, the company has secured $51.5 million in new capital through a private investment in public equity (PIPE).
Bailey stated that the new funds were raised in less than 72 hours, indicating that investor appetite for Nakamoto's Bitcoin accumulation strategy has increased.
"Investor demand is incredibly strong," said Bailey, adding, "We continue to implement our strategy of raising as much capital as possible to buy as much Bitcoin as we can."
This financing, priced at $5.00 per share, brings KindlyMD's total funding to approximately $563 million, and including convertible bonds, it rises to $763 million.
Nakamoto on the path to building a Bitcoin treasury
Nakamoto's approach resembles the strategy followed by other institutional structures aiming to use BTC as a reserve asset. The company was established earlier this year with the goal of creating a significant Bitcoin treasury, even as market sentiment remains mixed.
The proceeds from the latest round will primarily be used for purchasing Bitcoin. Additionally, funds will be allocated for working capital and general corporate needs. The PIPE financing will conclude upon the completion of the planned merger with KindlyMD, which trades on Nasdaq under the ticker NAKA.
Last month, shareholders of the healthcare company KindlyMD approved the merger with Nakamoto Holdings. Both companies plan to submit disclosures to the U.S. Securities and Exchange Commission (SEC), and the merger is expected to be completed in the third quarter of 2025.
