Catenaa, Tuesday, May 13, 2025- Bitcoin Magazine CEO David Bailey will lead a newly formed Bitcoin treasury firm, born from a merger between holding company Nakamoto Holdings and healthcare provider KindlyMD, the companies announced Monday.
The merged entity has secured $710 million in funding-$510 million through private investment in public equity and $200 million via convertible notes.
The firms said more than 200 investors participated, including Actai Ventures, Arrington Capital and BSQ Capital Partners.
The deal, described as the largest public crypto transaction to date, marks a significant expansion in the ecosystem of companies dedicated to acquiring and holding Bitcoin as a primary asset.
Bailey, a key crypto adviser to President Donald Trump during his 2024 campaign, will serve as chief executive of the new firm.
Bailey said in the announcement that they aimed to build a global network of Bitcoin treasury firms.
e projected that Bitcoin would become a staple across both public and private balance sheets in the years ahead.
KindlyMD, previously uninvolved in digital assets, will retain its healthcare mission, focusing on opioid treatment and holistic services. Its stock surged more than 300% following the announcement.
Bitcoin treasury firms have grown rapidly, led by Strategy-formerly MicroStrategy-which pioneered the model of large-scale corporate bitcoin holdings. The Nakamoto-KindlyMD venture joins a rising wave of publicly traded entities aiming to institutionalize bitcoin exposure.
