KindlyMD Inc. Shareholders Approve Merger with Bitcoin Holding Company Nakamoto Holdings

KindlyMD and Nakamoto Holdings, a newly formed company that focuses on creating a network of Bitcoin-related entities, will both file information statements with the Securities and Exchange Commission

Shareholders of healthcare services provider KindlyMD, Inc (NASDAQ:KDLY) have approved a proposed merger with Bitcoin holding company Nakamoto Holdings, which is being founded by US President Donald Trump’s crypto adviser, David Bailey.

KindlyMD and Nakamoto Holdings, a newly formed company that will focus on creating a network of Bitcoin-related entities, will both file information statements with the Securities and Exchange Commission, KindlyMD said in a statement on Saturday.

The merger is expected to take place 20 days after both companies have shared the information statement with KindlyMD’s shareholders, with the transaction expected to be completed in the third quarter of 2025.

Google Finance shows shares in KindlyMD closed the May 20 trading session up 9% at $15.22 and gained another 4.8% after the bell as the announcement of the approved merger came after the trading session ended. KDLY is up over 979% so far this year.

The companies first announced the merger on May 12, saying the merged entity will use equity, debt, and other offerings to develop a slew of Bitcoin-native companies.

Additionally, the company will also bolster its treasury by accumulating Bitcoin (BTC).

Companies continue to increase their Bitcoin holdings

A growing number of public companies have been adding Bitcoin to their balance sheets and have outpaced retail investors and exchange-traded funds, according to Bitcoin investment firm River.

Vivek Ramaswamy’s Strive said on Saturday that it intends to purchase Bitcoin claims tied to the defunct crypto exchange Mt. Gox and would look to buy 75,000 BTC at a discounted price.

Strategy, formerly MicroStrategy (NASDAQ:MICRO), said on Friday that it purchased 7,390 BTC for $765 million last week. The company’s top brass were also hit with a class-action lawsuit alleging they had failed to accurately represent the nature of the company’s Bitcoin investments.

Earlier this month, stablecoin issuer Tether bought nearly $459 million worth of Bitcoin for Twenty One Capital, a Bitcoin investment firm it backed that is awaiting the completion of a SPAC merger with Cantor Equity Partners.