KindlyMD increased its total assets to 5,764.91 BTC by purchasing 5,743.91 Bitcoin through its affiliate Nakamoto.
The health technology company KindlyMD (NAKA) is in the spotlight with its significant Bitcoin purchase. In its first major acquisition following the recently completed Nakamoto merger, the company purchased 5,743.91 BTC. Thus, KindlyMD's total Bitcoin (BTC) assets reached 5,764.91 BTC.
The average price of the purchase was $118,204, with a total size recorded at approximately $679 million. The company made this investment through resources obtained via PIPE financing. KindlyMD reiterated that its long-term goal is to accumulate 1 million Bitcoins. CEO David Bailey emphasized that they see Bitcoin as the ultimate reserve asset for institutions, stating that this purchase is one of the first steps in their strategic plan.
1 Million Bitcoin Target
KindlyMD's massive target positions the company differently among institutional Bitcoin investors. Bailey stated that they believe Bitcoin will be the fundamental reserve asset in the new era of global finance. The company’s strategy is built on becoming the most reliable and transparent institutional Bitcoin intermediary in the market.
Reflected in Stock Price
Following the company's announcement, NAKA shares rose by 4% to $12.50. This development also reflected investors' confidence in KindlyMD's Bitcoin strategy.