title: Bitcoin (BTC) Holding Company Nakamoto Merges with KindlyMD to Form a $710M Publicly Traded BTC Treasury

David Bailey’s Bitcoin-native holding company, Nakamoto, has pulled off a dramatic entrance into the public markets, raising $710 million and announcing a merger with healthcare firm KindlyMD to form one of the most ambitious Bitcoin treasuries to date.

David Bailey’s Bitcoin-native holding company, Nakamoto, is dramatically entering the public markets. The company announced a $710 million funding round and merger with KindlyMD (NASDAQ:KDLY) to create one of the most ambitious Bitcoin treasuries yet.

The move positions the new entity as a publicly traded Bitcoin (BTC) conglomerate aiming to push BTC into the heart of global capital markets.

The deal includes a $510 million private placement and $200 million in convertible notes, marking the largest PIPE ever in a public crypto-related transaction. Shares of KindlyMD soared over 650% in premarket.

Bailey, a longtime Bitcoin advocate and advisor to Donald Trump’s 2024 campaign, will lead the combined company. His goal is to build a new generation of financial institutions using Bitcoin as a core asset, similar to Morgan or Rothschild in the past.

“Every balance sheet, public or private, will hold Bitcoin. We intend to be the first conglomerate designed for that world,” Bailey stated.

The newly merged company aims to increase its Bitcoin holdings per share, termed “Bitcoin Yield” by Bailey, through future equity and debt offerings. This provides public investors with a transparent, compliant way to gain Bitcoin exposure without directly buying BTC.

KindlyMD will continue operating its network of clinics focused on opioid reduction and alternative medicine, but the merged entity’s primary focus will be financial.

The switch is backed by prominent crypto investors such as Adam Back, Balaji Srinivasan, and Jihan Wu. The merger allows Bailey to package Bitcoin into equities, bonds, and hybrids for global exchange listings.

The company will keep the KDLY ticker for now, with a new name and symbol to be proposed at the next shareholder meeting.