Nakamoto Holdings—the Bitcoin-focused entity founded by Trump’s crypto adviser David Bailey—has raised $51.5 million in a private placement, according to a statement from merger partner KindlyMD. The deal, priced at $5.00 per share, boosts KindlyMD’s total funding to $563 million, or $763 million when including outstanding convertible notes.
Bailey said the funding round came together in less than 72 hours, citing “extraordinary investor appetite” for the firm’s Bitcoin-first strategy. Proceeds from the raise will go directly toward additional BTC purchases, reinforcing the firm’s growing treasury as it joins the corporate Bitcoin accumulation wave.
Merger on Track as Bitcoin Treasury Plan Expands
Nakamoto Holdings is accelerating its merger with healthcare firm KindlyMD and plans to list under the ticker symbol NAKA by Q3 2025. The strategy centers on transforming newly raised capital into Bitcoin reserves while using equity and debt offerings to build new businesses in the crypto ecosystem.
KindlyMD shareholders approved the merger last month, and both companies are now preparing final filings with the U.S. Securities and Exchange Commission. A portion of the new capital will also support working capital and general operations as the combined entity pushes deeper into Bitcoin-native finance.
Corporate Bitcoin Adoption Surges but Warnings Emerge
Nakamoto Holdings’ push is part of a larger trend. According to BitcoinTreasuries.NET, at least 27 companies have recently added BTC to their balance sheets. From MicroStrategy to smaller firms, businesses are increasingly viewing Bitcoin as a hedge against inflation and economic instability.
However, analysts warn that many of these moves may lack solid risk frameworks. Fakhul Miah of GoMining Institutional noted that smaller firms might be “chasing headlines” without long-term strategies. Standard Chartered also issued a cautionary note: if BTC falls below $90,000, nearly half of these new entrants could face liquidation pressures.
The potential for forced selling could trigger cascading effects across public markets. While Bitcoin’s role as a treasury asset is expanding, experts stress the need for risk controls amid rising volatility.
Quick Facts
- Nakamoto Holdings raised $51.5M to grow its Bitcoin reserves.
- The firm is set to merge with KindlyMD and list on Nasdaq.
- Over 27 companies acquired Bitcoin in the past month.
- Analysts warn of risks if BTC price drops below $90K.
