KindlyMD and Nakamoto Complete Merger With Ambitious Bitcoin Goal

Bitcoin-focused firm Nakamoto, led by David Bailey, has officially merged with healthcare company KindlyMD, forming a publicly traded entity with one of the most aggressive BTC accumulation targets ever announced, a plan to acquire 1 million BTC.

The combined company will keep the KindlyMD name and continue trading on Nasdaq under the ticker symbol NAKA, with Nakamoto now operating as a wholly owned subsidiary

Bailey, who has advised US President Donald Trump on Bitcoin policy, will serve as CEO and chairman. KindlyMD’s former CEO, Tim Pickett, became chief medical officer overseeing healthcare operations.

KindlyMD shares jumped 13.4% on Thursday following the merger announcement, extending a rally that began in mid-May when the deal was first revealed.

Aiming for a Bitcoin Standard

“Our vision is for the world’s capital markets to operate on a Bitcoin standard. Today’s merger represents the beginning of that journey,” Bailey said in a statement.

KindlyMD’s mission includes making Bitcoin more accessible to investors, creating financial products to aid corporate and government adoption, and growing its treasury to 1 million BTC — a figure that would represent nearly 5% of the cryptocurrency’s fixed supply of 21 million coins.

Currently, the company holds just 21 BTC, but it plans to deploy $540 million from a recent PIPE (private investment in public equity) financing toward acquisitions. At current prices, that could add roughly 4,544 BTC, which would place it among the top 20 corporate holders globally, according to BitBo’s Bitcoin Treasuries dashboard.

Rising Competition Among BTC Treasuries

KindlyMD joins a growing list of public companies pursuing large Bitcoin positions. Michael Saylor’s Strategy already controls 628,946 BTC, while Metaplanet is targeting 210,000 BTC by 2027. BlackRock and Fidelity are also steadily increasing their holdings through BTC ETFs.

KindlyMD expects to close an additional $200 million convertible note offering on Saturday to further boost its purchasing power.

The merger also brings new board appointments, including Bitcoin Investment Group founder Eric Weiss, Morgan Creek Capital CEO Mark Yusco, Multicoin Capital’s Greg Xethalis, and Digital Chamber chair Perianne Boring.

NAKA shares closed at $15.02 after Thursday’s rally, lifting the company’s market capitalization to $114.25 million — a strong sign of investor enthusiasm for BTC-accumulating firms.

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