Nakamoto Holdings and KindlyMD Unveil $710M Bitcoin Treasury Strategy in Strategic Merger

Merger Targets Bitcoin-Integrated Financial Instruments in Traditional Markets

David Bailey, the founder of Nakamoto Holdings and a crypto adviser to former U.S. President Donald Trump, announced on May 12, 2025, a strategic merger with KindlyMD, a healthcare services provider, marking a pivotal move to integrate Bitcoin into traditional finance. 

The newly formed entity seeks to establish a global Bitcoin-native treasury network, utilizing equity, debt, preferred shares, and innovative hybrid financial structures to accumulate Bitcoin (BTC) and increase BTC holdings per share. Bailey emphasized the transformative potential of Bitcoin securitization, asserting that the move would “redraw the world’s economic map” and lay the groundwork for a future where “every balance sheet – public or private – holds Bitcoin.”

The merger signals an ambitious strategy to align traditional financial frameworks with Bitcoin-native markets, positioning the company to securitize Bitcoin and redefine financial instruments globally. The initiative mirrors Michael Saylor’s Bitcoin-centric strategy at Strategy, aiming to list Bitcoin-integrated financial products across major exchanges to facilitate broader exposure to digital assets within a compliant and transparent structure. Bailey’s vision extends to creating a robust ecosystem of Bitcoin-native firms encompassing media, advisory, and financial services, designed to accelerate Bitcoin’s mainstream integration.

The merger involves a substantial $710 million capital raise, structured into two main components: $510 million in gross proceeds from a private placement in public equity priced at $1.12 per share, incorporating common stock and pre-funded warrants in KindlyMD, and $200 million from senior secured convertible notes set to mature in 2028. This financial structure underscores the firm’s intent to solidify Bitcoin’s role in mainstream financial markets, reflecting a strategic blueprint to institutionalize Bitcoin within equity and debt markets.

Board approval has been secured from both Nakamoto Holdings and KindlyMD, though the transaction remains subject to the approval of KindlyMD’s shareholders. The newly merged entity will continue to trade on Nasdaq under the ticker “KDLY,” with a planned rebranding to emphasize its Bitcoin-centric strategy. Additionally, the firm will inherit Nakamoto Holdings’ existing business relationships, including ongoing marketing services from BTC Inc., the publisher of Bitcoin Magazine, further expanding its media and advisory footprint within the Bitcoin ecosystem.

Bailey’s broader mission to “bring Bitcoin to the center of global capital markets” aligns with a growing trend of integrating Bitcoin within traditional financial structures, as evidenced by recent institutional moves to securitize Bitcoin through structured financial products. The merger represents a strategic shift toward bridging Bitcoin-native assets with conventional finance, reinforcing the firm’s objective to provide market exposure to Bitcoin while establishing a compliant, scalable infrastructure for Bitcoin-based financial instruments.

This article has been refined and enhanced by ChatGPT.