KindlyMD, Inc. (NASDAQ: NAKA) has made headlines with a massive strategic investment in Bitcoin, marking a significant shift into the cryptocurrency space. Through its wholly owned subsidiary, Nakamoto Holdings, Inc., the company has acquired 5,743.91 BTC—a purchase valued at approximately $679 million.
This acquisition represents KindlyMD’s first major Bitcoin purchase since completing its recent merger. The company’s total Bitcoin holdings now stand at 5,764.91 BTC, signaling its commitment to building a substantial digital asset treasury.
Bitcoin Bought Using PIPE Proceeds
According to a press release, the purchase was funded using PIPE (Private Investment in Public Equity) proceeds, with the weighted average price per Bitcoin at $118,204.88. This strategy aligns with KindlyMD’s broader vision to build a long-term Bitcoin reserve through disciplined and strategic acquisitions.
Management clarified that the Bitcoin buy-in is not a one-off event but part of a larger, ongoing treasury strategy. The company has publicly set a bold target: to accumulate one million Bitcoin under its Nakamoto Bitcoin Treasury initiative. If achieved, this would make KindlyMD one of the largest institutional holders of Bitcoin globally.
CEO: Bitcoin Is the “Ultimate Reserve Asset”
In a statement, David Bailey, CEO and Chairman of KindlyMD, emphasized the long-term importance of this move:
“This purchase reinforces our strong belief in Bitcoin as the ultimate reserve asset. Our mission is to create a transparent and trusted Bitcoin vehicle for corporations and institutions.”
Bailey further added that KindlyMD aims to play a central role in anchoring the next era of global finance—with Bitcoin at the core of that transformation. By creating a credible and transparent Bitcoin treasury, the company hopes to pave the way for broader corporate and institutional adoption of digital assets.
