KindlyMD/NAKA Boosts Bitcoin Holdings with $679 Million Purchase
Finance/Markets

KindlyMD/NAKA Boosts Bitcoin Holdings with $679 Million Purchase

This significant acquisition marks KindlyMD's initial foray into major Bitcoin investments following its merger, enhancing overall BTC holdings significantly.

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Overview

KindlyMD, Inc. (NAKA) has completed a noteworthy acquisition of 5,743.91 Bitcoin (BTC) through its subsidiary, Nakamoto Holdings. This purchase represents the company’s first substantial investment in Bitcoin after the merger, enhancing its total Bitcoin holdings to 5,764.91 BTC.

Details of the Acquisition

  • The acquisition was completed at a weighted average price of $118,204.88.
  • Funded through PIPE proceeds, the total transaction amounted to $679 million.

CEO’s Statement

David Bailey, CEO of KindlyMD, expressed, “This acquisition reinforces our conviction in Bitcoin as the ultimate reserve asset for corporations and institutions alike. Our 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.”

Market Impact

Following this acquisition, NAKA shares surged by 4% in pre-market trading, reaching $12.50.

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