KindlyMD, Inc. (NASDAQ: NAKA) and Bitcoin-native holding company Nakamoto Holdings Inc. have officially completed their long-anticipated merger, forming a publicly traded Bitcoin treasury vehicle. This new entity, operating under the KindlyMD name and trading on the Nasdaq Capital Market, holds the ambitious goal of acquiring one million BTC. Nakamoto will function as a wholly owned subsidiary, overseeing the Bitcoin financial services division of the combined company.

David Bailey, CEO of the newly merged company, articulated a clear vision for the future: “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.” He expressed his long-standing belief that Bitcoin would become the most valuable asset in human history, held by every person, company, and government, emphasizing that the securitization of Bitcoin demonstrates how institutions will adopt it.

Tim Pickett, former KindlyMD CEO and now Chief Medical Officer, shared his enthusiasm for the integration. He stated, “We’ve built KindlyMD on operational and innovative excellence, and we are now extending that same principle to our capital strategy. Bitcoin gives us the ability to preserve value with the same integrity we apply to delivering care.”

The merger transaction successfully generated approximately $540 million in gross proceeds through a private placement in public equity (PIPE) financing, with these funds earmarked primarily for Bitcoin purchases. An additional $200 million convertible note offering was expected to close on August 15, 2025, further bolstering their acquisition capabilities.

The leadership team of the combined entity is helmed by David Bailey as CEO and Chairman of the Board. He is supported by Amanda Fabiano as COO, Tyler Evans as CIO, and Andrew Creighton as CCO. The board has been strengthened with newly appointed independent directors including Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis, Mark Yusko, and Tim Pickett.

Following the merger, KindlyMD made its first significant Bitcoin acquisition, purchasing 5,743.91 BTC for approximately $679 million. This acquisition was executed at a weighted average price of $118,204.88 per Bitcoin, bringing the company’s total holdings to 5,764.91 BTC. This initial purchase reinforces KindlyMD’s position as a significant player in the burgeoning corporate Bitcoin treasury space and was funded by proceeds from the PIPE financing and the successful completion of the $200 million convertible note offering.

The core mission of the merged company is to establish a premier, institutional-grade Bitcoin treasury vehicle designed to accelerate corporate and government adoption of the asset. By employing advanced corporate finance strategies, Nakamoto aims to simplify Bitcoin integration into global capital markets and establish itself as a frontrunner in public market Bitcoin treasury management. This strategic move aligns with the rapid evolution of the corporate Bitcoin treasury landscape in 2025, a period marked by increasing recognition of Bitcoin as a legitimate treasury asset by traditional financial institutions.

It is disclosed that Nakamoto is in partnership with Bitcoin Magazine’s parent company BTC Inc, which provides certain marketing services to Nakamoto, as part of an effort to build the first global network of Bitcoin treasury companies.