KindlyMD buys $679M in Bitcoin after merger, sets sights on one million BTC treasury

KindliyMD healthcare facility bought 5,743.91 BTC through its fully owned subsidiary, Nakamoto Holdings Inc. This is the first purchase since the merger was completed in late July. The company revealed that the purchase was made at an average price of $118,204.88 per BTC, totaling $679 million.

According to the company press release, funding for the purchase was accumulated through proceeds of a private investment in public equity (PIPE) and debt financing. The healthcare facility also completed a $200 million senior convertible note offering on August 15 with Yorkville Advisors, which was intended for additional Bitcoin purchases. 

KindlyMD sets the gear towards one million BTC treasury

KindlyDM’s CEO and Chair, David Bailey, said that the purchase acknowledged their confidence in Bitcoin as a reserve asset considered by corporations and other similar organizations. He mentioned the company’s mission of buying up to one million Bitcoin via Nakamoto Bitcoin Treasury.

On May 18, KindlyDM filed a final statement to finalize the merger, which prompted a 50.76% voting share in support and 50.14% approval related to financings on June 19. Nakamoto shareholders got 22.3 million shares of KindlyMD stock at $1.12 per share. 

The healthcare firm also raised $511.7 million via private placement of common stock and prefunded warrants at $1.12 per share. It also secured $51.5 million in a PIPE at $5.00 per share, which was allocated for Bitcoin purchases. The company issued a $200 million senior convertible debenture to Yorkville Advisors. The deal was backed by $400 million in BTC as collateral, with 0% interest for two years. For the third year, the interest rate will be 6%, and if there’s a default, it will be 18%.

KindlyMD also received the 2025 Equity Incentive Plan, which sets aside 10% of all shares when fully diluted. They also signed a $1.75 million working capital loan with BTC Inc., the parent company of Bitcoin Magazine, UTXO Management, and Bitcoin Conference. The loan had 0% interest and was secured by all the company’s assets. It was due when the merger completes or November 14, 2025.

KindlyMD stock rallies up 6% in the premarket before falling 8.8% 

David Bailey thanked the investors for their support, which shows that the company’s approach to using Bitcoin as a treasury strategy is working.

KindlyMD’s stock, NAKA, rallied 6% in the premarket session after the announcement. The stock is down 8.8% today, trading at $10.95, with a day range of $10.80-$13.10. The stock’s YTD performance is up 777%, signalling significant growth in the company’s business. During the July merger, the stock briefly tumbled by 5.4 % as financing details were disclosed.

The company’s initial 5744 BTC holdings place it among the top 20 corporate Bitcoin holders at current market prices. According to the Bitcoin Treasuries ranking, it is currently in the 16th position, totalling 5765 BTC. 

The healthcare facility  Bitcoin treasury approach follows major players such as MicroStrategy‘s Michael Saylor, who have repeatedly championed BTC as a financial tool.  Elsewhere, Japanese Investment firm, Metaplanet, recently announced that it will raise $2.7 billion to accumulate 210,000 BTC by 2027. 

Andre Dragosch, head of European research at Bitwise, revealed that American 401 (k) allocations to the Bitcoin treasury could generate $122 billion of fresh capital into the cryptocurrency market. He estimates that such institutional adoption could drive BTC’s price to $200,000 by the end of the year. 

The healthcare facility provides primary care in pain management, behavioural health, and alternative therapies. Now fully owned by the company, Nakamoto Holdings will handle the Bitcoin treasury strategies. 

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