KindlyMD, Inc. (NASDAQ: NAKA) and Bitcoin-native holding company Nakamoto Holdings Inc. have officially completed their eagerly awaited merger, forming a new publicly traded entity operating under the KindlyMD name on the Nasdaq Capital Market. Nakamoto Holdings will now function as a wholly owned subsidiary, specifically overseeing the Bitcoin financial services division of the combined company. This strategic union aims to establish KindlyMD as a premier, institutional-grade Bitcoin treasury vehicle with the ambitious goal of acquiring one million Bitcoin.

David Bailey, who previously led Nakamoto Holdings, now serves as CEO and Chairman of the Board for the merged company. He articulated a clear vision: for the world’s capital markets to transition to a Bitcoin standard, viewing Bitcoin as the most valuable asset in human history. The securitization of Bitcoin, he believes, will drive institutional adoption. The leadership team has been strengthened with Amanda Fabiano as COO, Tyler Evans as CIO, and Andrew Creighton as CCO. Former KindlyMD CEO, Tim Pickett, takes on the role of Chief Medical Officer, with a newly appointed independent board including Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis, and Mark Yusko.

The merger transaction successfully generated approximately $540 million in gross proceeds through a private placement in public equity (PIPE) financing, primarily earmarked for future Bitcoin purchases. Additionally, a $200 million convertible note offering was expected to close shortly after the merger, with its proceeds also specifically designated for acquiring more Bitcoin. This financial structuring underscores the company's commitment to building a robust Bitcoin treasury.

Following its August 2025 merger, KindlyMD made its first significant move in the Bitcoin market on August 19, 2025. The company acquired 5,743.91 BTC for approximately $679 million, at a weighted average price of $118,204.88 per Bitcoin. This substantial purchase, funded by the proceeds from the PIPE financing and the completed $200 million convertible note offering, brings KindlyMD’s total Bitcoin holdings to 5,764.91 BTC. This acquisition immediately positions KindlyMD as a notable participant in the rapidly expanding corporate Bitcoin treasury space.

CEO David Bailey reaffirmed the company's conviction in Bitcoin as the ultimate reserve asset for corporations and institutions. He emphasized that the long-term mission of accumulating one million Bitcoin reflects the belief that Bitcoin will be foundational to the next era of global finance. KindlyMD aims to be the most trusted and transparent vehicle to achieve this future, leveraging advanced corporate finance strategies to simplify Bitcoin integration into global capital markets. This strategy aligns with the broader trend in 2025, where traditional financial institutions increasingly recognize Bitcoin as a legitimate treasury asset, accelerating the development of sophisticated investment vehicles for corporate Bitcoin exposure.

It is disclosed that Nakamoto, as part of the combined entity, is in partnership with Bitcoin Magazine’s parent company BTC Inc. This partnership is geared towards building the first global network of Bitcoin treasury companies, with BTC Inc providing certain marketing services to Nakamoto.