Bitcoin Treasury Revolution: Nakamoto & KindlyMD Seal $710M Merger to Launch Public BTC Treasury

Historic Deal Creates First Bitcoin-Native Public Conglomerate

In a landmark move for Bitcoin adoption, Nakamoto Holdings Inc.—a bitcoin-native investment firm—has merged with KindlyMD, Inc. (Nasdaq: KDLY), a Utah-based healthcare provider, in a $710 million deal. The merger establishes the first publicly traded company dedicated to building a BTC treasury, backed by $510M in private equity and $200M in convertible notes.

JUST IN: 🇺🇸 KindlyMD ($NAKA) has made its first #Bitcoin purchase, acquiring 21 BTC for ~$2.3M at an avg price of $109,027.

This symbolic move—one millionth of total supply—marks the start of its #Bitcoin treasury strategy ahead of its merger with @Nakamoto. pic.twitter.com/cZi2crBtxs

— Bitcoin For Corporations (@BitcoinForCorps) May 27, 2025

Key Players & Leadership

• David Bailey, founder of Nakamoto and CEO of BTC Inc., will lead the combined entity as CEO.

• Tim Pickett, KindlyMD’s CEO, will continue overseeing healthcare operations, focusing on holistic opioid crisis treatment.

• The board will be Nakamoto-dominated (6 members), with strategic oversight from investors like Arrington Capital, VanEck, and Metaplanet’s Simon Gerovich.

Why This Merger Matters

✔ Largest BTC Treasury Raise Ever: The deal marks the biggest PIPE (private investment in public equity) in crypto history.
✔ Mainstream Bitcoin Integration: Nakamoto plans to issue BTC-linked financial instruments, accelerating Bitcoin’s role in global markets.
✔ Healthcare Meets Crypto: KindlyMD’s clinics will continue insurance-backed operations, while Nakamoto’s treasury strategy fuels growth.

The Vision: A Bitcoin-Powered Conglomerate

Bailey calls Nakamoto the “first conglomerate built for Bitcoin”, aiming to:

• Aggressively accumulate BTC as a core treasury asset.

• Expand “bitcoin yield per share” via equity, debt, and hybrid offerings.

• Leverage BTC Inc.’s marketing network to promote its BTC strategy.

What’s Next?

• Shareholder & regulatory approval pending (expected to close soon).

• KindlyMD’s stock will relist under a new ticker.

Pickett’s Take: “This merger lets KindlyMD scale its healthcare mission while pioneering Bitcoin’s financial future.”
Bailey’s Bold Claim: “We’re mirroring legacy finance—but with Bitcoin at the core.”