12-05-2025
KindlyMD shares skyrocket 600% after merger with Trump crypto advisor David Bailey's bitcoin investment company
Shares of KindlyMD skyrocketed 600% Monday after the healthcare company announced a merger with Nakamoto Holdings, a bitcoin investment company founded by David Bailey, a key cryptocurrency advisor to President Donald Trump.
The newly formed company has secured $200 million in convertible debt and $510 million in fresh capital through a private investment in public equity (PIPE) deal, offering shares at $1.12 each.
The raise drew support from more than 200 investors, including Actai Ventures, Arrington Capital, BSQ Capital Partners, Kingsway, Van Eck, and Yorkville Advisors.
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The roster of individual investors reads like a who's who of bitcoin — cryptographer Adam Back; Balaji Srinivasan, a former Coinbase executive; Jihan Wu, co-founder of Bitmain; and Ricardo Salinas, the Mexican billionaire who has become one of bitcoin's most vocal supporters.
Shares of KindlyMD will continue to trade under the "KDLY" ticker. The combined company expects to be renamed and will get a new ticker symbol.
Nakamoto, which will is led by Bailey as CEO, will focus on acquiring and holding bitcoin.
Bitcoin investment firms raise large sums of money, often through a mix of equity and debt, to buy and hold bitcoin. Their stock becomes another way for investors to bet on the price of bitcoin.
