NASDAQ-listed company KindlyMD has completed $200 million in convertible bonds to expand its Bitcoin holdings. (Background: A look back at the peak of the 2021 bull market, the wild claims and sobering moments of top crypto influencers) (Context: The bull market pauses, four key criteria for selecting potential altcoins for 2025) KindlyMD, an integrated medical technology company listed on NASDAQ, announced on Monday that it has completed $200 million in convertible bond financing to accelerate the inclusion of Bitcoin in its balance sheet. 0% to 6%: Convertible bond terms and risk balance This $200 million convertible bond has a zero interest rate for the first two years, with an interest rate of 6% starting in the third year, maturing in 2028. KindlyMD has used double the principal, approximately $400 million in Bitcoin, as collateral to alleviate lender concerns. Lender YA II PN, Ltd. can convert the bonds into stock at any time at $2.8 per share, but this effectively shifts the potential dilution risk to future stock prices. After the announcement, KindlyMD's stock price fell 12% on the 18th, indicating the market's cautious approach to Bitcoin volatility and equity dilution. However, compared to a one-time stock issuance, convertible bonds allow the company to access cash first and face dilution later, balancing cash flow and shareholder structure—this has become a common fundraising path in the crypto space in recent years. From medical data to 'Bitcoin treasury stock' KindlyMD's transformation began with its merger with Bitcoin investment company Nakamoto Holdings. The latter's founder, David Bailey, was a former crypto policy advisor to U.S. President Trump and is well-versed in industry regulatory dynamics. After the merger, the new company’s stock symbol is NAKA, and it also completed a $540 million PIPE financing, clearly designating Bitcoin as a core asset. Bailey publicly stated: 'Our goal is to accumulate 1 million Bitcoins within ten years.' From a capital market perspective, KindlyMD is not an isolated case but rather a magnifying glass on a trend: in an environment of high inflation and capital costs, companies are increasingly seeking high beta assets in a more aggressive manner. Whether KindlyMD can navigate the waves steadily will be one of the observation points in determining whether 'Bitcoin enters corporate financial reports' becomes normalized. Related reports ChatGPT in-depth analysis: Who are the next potential coins before the altcoin bull market arrives in August? Five indicators reveal: Bitcoin has not yet peaked, the altcoin bull market has not yet started—my judgment after experiencing four cycles. Vitalik Buterin declares 'the Ethereum bull market has arrived', showcasing rare humor along with a marketing firm...; community feedback is polarized 'Publicly listed medical company KindlyMD completes $200 million in convertible bonds: to be used for increasing Bitcoin holdings, stock price drops instead of rising' this article was first published in BlockTempo (the most influential blockchain news media).

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