David Bailey’s Bitcoin company, Nakamoto, has officially merged with healthcare firm KindlyMD. The new combined company will keep the name KindlyMD and continue trading on Nasdaq under the ticker NAKA. Nakamoto will now operate as a fully-owned subsidiary, handling the company’s Bitcoin operations.
As per the announcement, David Bailey will serve as CEO and Chairman of the merged company. KindlyMD’s former CEO, Tim Pickett, who is currently serving as Chief Medical Officer, will also lead this new venture as Director. The company has also added six new board members, including experts in Bitcoin and digital assets like Eric Weiss and Mark Yusko.
Bitcoin Treasury Plans
The merged company aims to build a large Bitcoin treasury, targeting 1 million BTC in the long term. Currently, KindlyMD holds just 21 Bitcoin, but it plans to use $540 million raised from its recent financing to purchase more Bitcoin. Another $200 million convertible note offering is expected to close soon.
However, the firm is far behind in the Bitcoin accumulation race. For instance, Michael Saylor’s Strategy owns 628,946 BTC and plans to keep buying. Other firms like Metaplanet and Semler Scientific also aim to hold 210,000 and 105,000 BTC, respectively, by 2027.
As per Yahoo Finance data, shares of NAKA jumped 13.4% to $15.02 after the merger, reflecting strong market interest in companies accumulating Bitcoin. The company hopes this strategy will position it among the top Bitcoin treasury holders globally.
“Our vision is for the world’s capital markets to operate on a Bitcoin standard,” said David Bailey. “Today’s merger represents the beginning of that journey for our company. Since I started my journey in Bitcoin 13 years ago, I’ve always believed Bitcoin would become the most valuable asset in human history, held by every person, company, and government.
He emphasized that the firm is intended to move forward with a broader Bitcoin vision and this merger sets the stage for the next chapter of growth.
KindlyMD is a healthcare organization that provides primary care, pain management, behavioral health services, and alternative therapies. The merger combines its healthcare experience with Nakamoto’s Bitcoin-focused approach, resulting in a business dedicated to both healthcare innovation and Bitcoin treasury management.
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