Nasdaq-listed firm aims to acquire 1 million BTC as part of long-term accumulation strategy
KindlyMD has officially completed its merger with Nakamoto, the Bitcoin-focused entity founded by US presidential crypto adviser David Bailey, creating a publicly traded Bitcoin treasury company with an ambitious goal — to accumulate 1 million BTC.
The merged company will continue trading on the Nasdaq under the ticker NAKA, with Nakamoto operating as a wholly owned subsidiary. Bailey will serve as CEO and chairman, while KindlyMD’s former chief executive, Tim Pickett, takes on the role of chief medical officer to oversee the healthcare side of operations.
“Our vision is for the world’s capital markets to operate on a Bitcoin standard. Today’s merger represents the beginning of that journey for our company,” Bailey said.
Honored to officially join KindlyMD as CEO and Chairman. Thank you for coming on this journey with me- together we will rebuild the world on the bitcoin standard.
One Nakamoto = One million Bitcoin
— David Bailey🇵🇷 $1.0mm/btc is the floor (@DavidFBailey) August 14, 2025
KindlyMD’s immediate mission is to expand its Bitcoin holdings, which currently stand at just 21 BTC, into one of the largest corporate treasuries in the world. The firm intends to deploy $540 million from recent PIPE financing into Bitcoin purchases, a move that could add 4,544 BTC at current market prices — enough to place it in the top 20 corporate Bitcoin holders.
A $200 million convertible note offering is also expected to close imminently, providing further capital for acquisitions.
The approach mirrors other major Bitcoin treasury strategies, such as Michael Saylor’s MicroStrategy, which holds 628,946 BTC, and emerging corporate buyers like Metaplanet and Semler Scientific, aiming for 210,000 and 105,000 BTC respectively by 2027.
News of the completed merger sent NAKA shares up 13.4% to $15.02, lifting its market capitalization to $114.25 million. Since the merger announcement on May 12, the stock has gained $2.85, continuing a broader trend of price appreciation among Bitcoin-buying companies.
KindlyMD also announced new board appointments, including Eric Weiss, founder of Bitcoin Investment Group; Mark Yusco, CEO of Morgan Creek Capital Management; Greg Xethalis, general counsel at Multicoin Capital; and Perianne Boring, chair of the Digital Chamber.
With 21 BTC down and 999,979 to go, the firm’s long-term strategy hinges on capturing a meaningful share of Bitcoin’s fixed 21 million supply, while positioning itself as a leader in corporate and government adoption of the digital asset.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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