The capital raised from its landmark merger with Nakamoto is now on the blockchain. KindlyMD has executed its inaugural Bitcoin purchase, converting $679 million of its PIPE proceeds into the original crypto and signaling its intent to rival other corporate treasuries that now measure reserves in BTC.
Summary
- KindlyMD completed its first Bitcoin purchase, acquiring 5,743.91 BTC for $679 million following its merger with Nakamoto Holdings.
- The purchase increases KindlyMDโs holdings to 5,764.91 BTC, ranking it as the 16th largest corporate Bitcoin holder.
On August 19, KindlyMD, Inc. announced its wholly owned subsidiary, Nakamoto Holdings, had acquired 5,743.91 Bitcoin (BTC) for approximately $679 million. The purchase, executed at a weighted average price of $118,204.88 per BTC, is the companyโs first since it formally completed its strategic merger with the Bitcoin-native holding company just days prior.
This initial deployment of capital from the mergerโs $540 million PIPE financing immediately boosts KindlyMDโs total holdings to 5,764.91 BTC, positioning it as the 16th largest corporate holder of the benchmark digital asset, according to BitcoinTreasuries.Net data.
A new ambitious player in the corporate Bitcoin race
The scale of KindlyMDโs first Bitcoin purchase is merely a down payment on an almost unprecedented corporate ambition. According to its official statement, the companyโs long term mission is to acquire one million Bitcoin under the Nakamoto Bitcoin Treasury initiative.ย
This staggering target, valued at over $115 billion at current prices, is predicated on a belief that Bitcoin will fundamentally anchor the next era of global finance. The companyโs leadership has made it clear that this is not a speculative trade, but a strategic overhaul of its treasury management.
โThis acquisition reinforces our conviction in Bitcoin as the ultimate reserve asset for corporations and institutions alike,โ David Bailey, Chief Executive Officer and Chairman of the Company, said. โOur long-term mission of accumulating one million Bitcoin reflects our belief that Bitcoin will anchor the next era of global finance, and we are committed to building the most trusted and transparent vehicle to achieve that future.โ
The competitionย
KindlyMDโs aggressive pivot to Bitcoin comes amid a growing wave of corporate treasuries anchored in the worldโs largest crypto asset by market cap. The scale of its ambition is what truly sets it apart.
If achieved, its one million BTC goal would dwarf nearly every other corporate holder. It would place the company in the same stratosphere as Michael Saylorโs Strategy, which held 629,376 BTC as of press time.
Other notable holders, such as Bitcoin Standard Treasury Company, Metaplanet Inc., and Trump Media and Technology Group Corp., with 30,021 BTC, 18,888 BTC, and 150,000 BTC respectively, would be left in its wake. Even the much discussed venture Twenty One, backed by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank with its 43,500 BTC, pales in comparison to KindlyMDโs ultimate objective.
