KindlyMD Acquires 21 Bitcoin Ahead of Merger with Nakamoto
KindlyMD (NAKA), an integrated healthcare services provider, has initiated a Bitcoin treasury strategy, acquiring 21 BTC for approximately $2.3 million, averaging $109,027 per coin. This purchase, detailed in a Tuesday press release, was financed by exercising existing warrants. David Bailey, founder and CEO of Nakamoto Holdings, announced on X (formerly Twitter) that this represents the company’s first step towards accumulating 1 million Bitcoin, stating “Our first 1/millionth of all bitcoin, on our way to owning 1,000,000 bitcoin,” and further defining “1 Nakamoto = 1m Bitcoin.” NAKA’s stock experienced a 3.9% increase on Tuesday following the announcement.
This Bitcoin acquisition follows KindlyMD’s May 12th announcement of a merger with Nakamoto Holdings, designed to emulate MicroStrategy’s (MSTR) Bitcoin accumulation strategy. The combined entity secured substantial funding, totaling $710 million, to fuel this ambitious undertaking. To ensure the secure management of its growing Bitcoin holdings, KindlyMD and Nakamoto have partnered with Anchorage Digital, a prominent cryptocurrency custody firm. Anchorage Digital will provide exclusive custody and trading services for the combined company post-merger, which is expected to be finalized in the third quarter of 2025.
This strategic move by KindlyMD represents a significant commitment to Bitcoin as a long-term asset. The company’s aggressive acquisition plan, coupled with its partnership with a reputable custody provider, signals a confident approach to navigating the cryptocurrency market. The substantial funding secured further underscores the company’s commitment to its Bitcoin accumulation strategy and its potential long-term growth prospects. The success of this strategy will depend on several factors, including the future price of Bitcoin and the ability of the merged entity to efficiently manage its cryptocurrency assets. The market’s reaction to the announcement, reflected in the stock price increase, suggests initial investor enthusiasm for this bold strategy.
