$710 Million Raised as David Bailey Leads Ambitious Plan to Transform Bitcoin Adoption Through Public Equity
In a landmark move bridging healthcare innovation and digital finance, KindlyMD (KDLY) has announced a definitive merger agreement with Nakamoto Holdings Inc., a Bitcoin-native holding company founded by Bitcoin advocate David Bailey. The transaction aims to establish the largest publicly traded Bitcoin treasury platform, backed by a massive $710 million in funding.
The deal includes a $510 million fully committed PIPE (private investment in public equity) and $200 million in senior secured convertible notes, marking the largest capital raise to date for a public crypto-related transaction. With Bailey stepping in as CEO of the combined entity, the partnership signals a bold strategy to bring Bitcoin further into the mainstream capital markets.
Nakamoto Holdings, in collaboration with BTC Inc—the publisher of Bitcoin Magazine and organizer of the annual Bitcoin Conference—plans to create a global network of Bitcoin treasury companies. Its goal: to package Bitcoin into investor-friendly instruments such as equity, debt, and hybrid securities, and list them on major exchanges worldwide.
“Traditional finance and Bitcoin-native markets are converging,” said Bailey. “We believe a future is coming where every balance sheet—public or private—holds Bitcoin. Nakamoto seeks to be the first publicly traded conglomerate designed to accelerate that.”
The merger offers investors exposure to Bitcoin within a transparent, regulatory-compliant public market vehicle. It also brings together an all-star lineup of institutional investors and industry leaders, including ParaFi, VanEck, Arrington Capital, and individual Bitcoin pioneers like Adam Back, Balaji Srinivasan, and Jihan Wu.
Tim Pickett, CEO of KindlyMD, will continue leading the company’s healthcare operations, which will remain focused on combating the opioid crisis through holistic health services. The merger allows KindlyMD to expand its mission while benefiting from Nakamoto’s crypto expertise and access to global Bitcoin resources.
Following the merger, shares will continue to trade on Nasdaq under the symbol “KDLY,” with a planned ticker and name change. The combined company will also assume Nakamoto’s marketing agreement with BTC Inc., helping amplify its Bitcoin treasury strategy through one of the largest media platforms in the digital asset space.
With six board seats designated to Nakamoto and one to KindlyMD, the merger underscores the strategic pivot toward Bitcoin-centered financial operations while maintaining a strong foundation in healthcare services.
Pending shareholder approval and standard regulatory conditions, the merger is expected to close alongside the PIPE and debt financings. This union not only redefines Bitcoin’s role in public markets but may also usher in a new era of institutional crypto adoption on a global scale.
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