KindlyMD, a U.S.-based healthcare services firm, has announced a strategic move to join the list of institutions with a bitcoin reserve. A recent press release revealed that the firm has raised about $710 million and partnered with Nakamoto Holdings to establish a bitcoin (BTC) Treasury.
Nakamoto Holdings was recently established as a Bitcoin-Native holding company by David Bailey, co-founder and CEO of BTC Inc., the mother company that houses Bitcoin Magazine and organizes annual Bitcoin Conferences.
KindlyMD Joins the BTC Move
Remarkably, the recent uptrend in the price of BTC and the value of the crypto market has ignited the interest of many firms in adopting a strategic bitcoin reserve. Thus, they follow in the footsteps of American business intelligence firm Strategy, Japanese publicly traded firm Metaplanet, and other firms on the list enjoying earlybird profits.
Nakamoto and KindlyMD have secured $710 million in financing: $510 million via PIPE, priced at $1.12 per share, consisting of common stock and warrants in KindlyMD, and $200 million via a convertible notes offering. Its fundraising involved over 200 investors from across six continents, making it one of history’s most significant capital raises to launch a bitcoin treasury.
The alliance aims to acquire BTC and boost investors’ BTC per share or Bitcoin Yield. Additionally, it gives KindlyMD shareholders indirect exposure to the crypto industry, as market price action may determine the value of assets held.
“This merger represents a strategic leap for KindlyMD, allowing us to expand our mission. Nakamoto brings in a team with deep expertise in Bitcoin strategy and unparalleled access to the leading experts in Bitcoin treasury management. It’s a bold new vision that will drive long-term value for our shareholders,” says Tim Pickett, KindlyMD’s CEO.
KindlyMD Stock Soars
Following the partnership announcement, KindlyMD’s stock surged by over 500%, surpassing the $25 milestone as crypto-inclined investors secured stocks in the firm, aiming to reap profits over time. Remarkably, the collaboration notice coincides with the BTC surge to $105,000 on Monday.
Meanwhile, KindlyMD has become the second publicly traded healthcare firm to adopt a strategic BTC reserve. Semler Scientific joined the trend in 2024 and has occasionally boosted its stash by acquiring BTC from the open market. It holds over 3,300 BTC.
