KindlyMD has purchased 5,743 Bitcoin worth $679M after its merger, marking its entry into corporate BTC treasury management through Nakamoto Holdings.
KindlyMD Buys 5,743 Bitcoin Worth $679M After Merger
Salt Lake City-based healthcare provider KindlyMD, Inc. (NASDAQ: NAKA) has entered the crypto space with a massive first purchase of Bitcoin, acquiring 5,743 BTC worth $679 million.
The acquisition was carried out by its wholly-owned subsidiary, Nakamoto Holdings, and represents the company’s first major move since completing its recent merger.
Details of the BTC Acquisition
According to the press release, the deal was completed at an average price of $118,204.88 per BTC, totaling $679 million.
The purchase was funded through Private Investment in Public Equity (PIPE) financing, ensuring a strong capital base without relying on debt.
CEO’s Vision: BTC as a Corporate Reserve Asset
KindlyMD CEO and Chairman David Bailey highlighted the company’s conviction in Bitcoin:
“This acquisition reinforces our conviction in BTC as the ultimate reserve asset for corporations and institutions alike.”
Bailey also unveiled a long-term goal to accumulate one million BTC as part of its new treasury strategy, positioning Bitcoin as central to the future of global finance.
Nakamoto BTC Treasury Program
The purchase was made under KindlyMD’s Nakamoto BTC Treasury program, designed to provide a transparent and reliable vehicle for institutional Bitcoin storage.
This move aligns with a growing corporate trend where firms add BTC to their balance sheets as a store of value and hedge against market volatility.
Industry Context
KindlyMD joins other major corporate players that view BTC as a strategic asset. Notably, Strategy Inc., which pioneered this trend, now holds over 600,000 BTC worth $53.5 billion, according to Arkham.
By combining its healthcare services expertise with a bold Bitcoin treasury strategy, KindlyMD positions itself as both a healthcare provider and a financial innovator in the evolving digital asset space.
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