David Bailey’s Bitcoin Holding Company Debuts with $710 Million Raise and Strategic Merger

David Bailey’s Bitcoin-focused holding company, Nakamoto, has made a bold entrance into the public markets by raising an impressive $710 million and merging with healthcare firm KindlyMD. This move positions the newly formed entity as a publicly traded Bitcoin conglomerate, aiming to integrate Bitcoin (BTC) into global capital markets.

The Largest PIPE in Crypto History

The deal includes a $510 million private placement and $200 million in convertible notes, making it the largest private investment in public equity (PIPE) ever executed in a crypto-related transaction. Following the announcement, KindlyMD shares surged more than 650% in premarket trading, signaling strong investor interest in the merger.

Bailey’s Vision for Bitcoin Integration

David Bailey, a seasoned Bitcoin advocate and advisor to Donald Trump’s 2024 campaign, will serve as CEO of the combined company. His vision is to create a new type of financial institution with Bitcoin as its cornerstone asset, drawing inspiration from historic financial giants like Morgan and Rothschild.

“Every balance sheet, public or private, will hold Bitcoin,” Bailey stated. “We intend to be the first conglomerate designed for that world.”

The company plans to increase its Bitcoin holdings per share—termed “Bitcoin Yield”—through future equity and debt offerings. This strategy offers public investors a transparent and regulatory-compliant way to gain Bitcoin exposure without directly purchasing BTC.

KindlyMD’s Role in the Merger

While KindlyMD will maintain its operations, focusing on opioid reduction and alternative medicine through its network of clinics, the merged entity’s primary focus is financial. By leveraging the healthcare firm’s existing Nasdaq listing, the new company gains a platform to package Bitcoin into equities, bonds, and hybrid financial products for global exchange listings.

Backing from Crypto Heavyweights

The merger has attracted support from notable crypto investors, including Adam Back, Balaji Srinivasan, and Jihan Wu. Their involvement underscores the strategic importance of this deal in advancing Bitcoin’s integration into traditional financial markets.

Next Steps for the Combined Entity

The company will temporarily retain KindlyMD’s ticker symbol, KDLY, with plans to adopt a new name and symbol pending shareholder approval. The long-term goal is to establish a Bitcoin-native financial institution that provides innovative investment opportunities while promoting broader adoption of BTC as a core financial asset.

By merging Bitcoin with traditional financial instruments, Bailey aims to bridge the gap between cryptocurrency and legacy finance, positioning the company as a pioneer in this evolving space.

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