- KindlyMD purchases 21 Bitcoin as part of its Bitcoin treasury strategy.
- The purchase utilized $2.3 million from the $8.7 million raised through warrant exercises.
- The acquisition aligns with the upcoming merger with Nakamoto Holdings Inc.
KindlyMD, Inc. (NAKA, Financial), a prominent provider of integrated healthcare services, has announced the strategic purchase of 21 Bitcoins. The acquisition was made at an average price of $109,027 per Bitcoin, amounting to a total investment of approximately $2.3 million. This purchase represents a significant step in KindlyMD's plan to implement a Bitcoin treasury strategy as it prepares for its proposed merger with Nakamoto Holdings Inc., a Bitcoin-native holding company.
The funding for this Bitcoin purchase was derived from the recent exercise of warrants, which generated $8,748,370 in gross proceeds. This financial maneuver also resulted in the issuance of 1,437,362 shares of KindlyMD common stock, reflecting investor confidence in the company's direction and the upcoming merger.
David Bailey, Founder and CEO of Nakamoto, emphasized the symbolic nature of acquiring 21 Bitcoins, representing one millionth of the total Bitcoin supply, as a testament to their commitment to becoming a leader in Bitcoin treasury strategies. Tim Pickett, CEO of KindlyMD, highlighted the investment as a reinforcement of their commitment to long-term shareholder value and a demonstration of investor enthusiasm ahead of the 2025 Bitcoin Conference in Las Vegas.
This strategic initiative is expected to facilitate KindlyMD's transition as it joins forces with Nakamoto, who aims to establish a conglomerate of Bitcoin companies. The merger is poised to enhance KindlyMD's capabilities in managing its Bitcoin assets while pursuing new opportunities in the Bitcoin ecosystem.
