KindlyMD, Inc. (NASDAQ: NAKA), a Salt Lake City healthcare provider, has made its first major step into the cryptocurrency market with a bold $679 million Bitcoin purchase.
The company disclosed that its fully owned subsidiary, Nakamoto Holdings, acquired 5,743.91 BTC at an average price of $118,204.88 per coin. The deal, its first following a corporate merger, was financed through a Private Investment in Public Equity (PIPE), avoiding debt reliance.
CEO and Chairman David Bailey framed the move as a defining moment in the company’s long-term vision.
“This acquisition reinforces our conviction in Bitcoin as the ultimate reserve asset for corporations and institutions alike,” Bailey said, adding that the company’s goal is to eventually accumulate one million Bitcoin.
The new Nakamoto Bitcoin Treasury program is designed to offer institutions a transparent and reliable vehicle for large-scale Bitcoin holdings. By blending healthcare services with a Bitcoin-focused treasury model, KindlyMD is positioning itself as both a medical provider and financial innovator.
Corporate Bitcoin adoption continues to gain momentum. MicroStrategy, a pioneer in this strategy, now holds over 600,000 BTC worth more than $53.5 billion. With its bold entry, KindlyMD joins a growing list of companies reshaping treasury management through digital assets.
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