KindlyMD, Inc. and Bitcoin-native holding company Nakamoto Holdings Inc. have officially finalized their anticipated merger, establishing a publicly traded Bitcoin treasury vehicle with the ambitious goal of acquiring one million Bitcoin (BTC). The newly combined entity will continue to operate under the KindlyMD name, trading on the Nasdaq Capital Market, while Nakamoto Holdings will function as a wholly owned subsidiary, specifically overseeing the Bitcoin financial services division.

David Bailey, who assumes the role of CEO of the merged company, articulated a clear vision: to transition the world’s capital markets onto a Bitcoin standard. He expressed his long-held belief, spanning 13 years, that Bitcoin would become the most valuable asset globally, adopted by individuals, corporations, and governments. Bailey emphasized that the securitization of Bitcoin demonstrates how institutions will embrace it, and the company intends to lead this adoption.

Tim Pickett, former KindlyMD CEO and now Chief Medical Officer, expressed enthusiasm for the merger, noting that KindlyMD’s established operational and innovative excellence would now extend to its capital strategy. He highlighted Bitcoin’s capacity to preserve value with the same integrity applied to delivering healthcare services.

The merger transaction successfully generated approximately $540 million in gross proceeds through a private placement in public equity (PIPE) financing, with these funds primarily earmarked for Bitcoin purchases. An additional $200 million convertible note offering was expected to close shortly after the merger, further contributing to the capital designated for Bitcoin acquisitions.

The leadership team for the combined entity includes 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 is strengthened by newly appointed independent directors: Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis, and Mark Yusko, alongside Tim Pickett. The company's core mission is to establish a premier, institutional-grade Bitcoin treasury vehicle that will accelerate corporate and government adoption of the digital asset. By employing advanced corporate finance strategies, Nakamoto aims to streamline Bitcoin's integration into global capital markets, positioning itself as a leader in public market Bitcoin treasury management.

Following the merger, KindlyMD made its first significant Bitcoin acquisition, purchasing 5,743.91 BTC for approximately $679 million. This acquisition, executed at a weighted average price of $118,204.88 per Bitcoin, brings the company’s total holdings to 5,764.91 BTC. This substantial purchase solidifies KindlyMD’s position as a notable player in the expanding corporate Bitcoin treasury sector. David Bailey reaffirmed that this acquisition underscores the company’s strong conviction in Bitcoin as the ultimate reserve asset for corporations and institutions. He reiterated the long-term mission of accumulating one million Bitcoin, reflecting the belief that Bitcoin will be foundational to the next era of global finance, and stressed the commitment to building a trusted and transparent vehicle to achieve this future.

The funds for this initial acquisition were derived from the recently completed PIPE financing, demonstrating the company’s disciplined execution of its Bitcoin treasury strategy. The $200 million convertible note offering, which closed on August 15, also contributed proceeds specifically designated for further Bitcoin purchases. This transaction marked a pivotal milestone in KindlyMD’s evolution, following its August 2025 merger with Nakamoto Holdings, creating a unique entity that merges healthcare expertise with cutting-edge Bitcoin treasury management.

The corporate Bitcoin treasury landscape has experienced rapid evolution throughout 2025, with an increasing number of major companies establishing dedicated Bitcoin acquisition vehicles. This trend has been driven by the growing recognition of Bitcoin as a legitimate treasury asset among traditional financial institutions, leading to the development of more sophisticated financial instruments and investment vehicles tailored for corporate Bitcoin exposure.