KindlyMD, a health-tech company based in Utah, has announced its merger with Nakamoto, a publicly traded firm focused on Bitcoin. This strategic partnership is set to implement a public Bitcoin treasury strategy.
On May 9, the two companies revealed this merger, marking a significant milestone as one of the first healthcare organizations to embrace Bitcoin as a core investment asset within its financial strategy.
hello worldhttps://t.co/UQNX71ra8r
— Nakamoto (@Nakamoto_HQ) May 12, 2025
The merged entity will continue under the KindlyMD name and will trade on the OTC Markets with the ticker “BITC.”
With John “Jack” Abel at the helm as the newly appointed CEO, KindlyMD is now defining its role as a “public Bitcoin operating company.” This innovative structure aims to combine traditional operational business revenue with a reserve of Bitcoin at its financial core.
This merger exemplifies a significant shift in the approach of traditional businesses outside the cryptocurrency sphere toward integrating Bitcoin as a buffer against fiat currency inflation, economic instability, and centralized financial control.
“This isn’t a side investment; it’s a foundational principle,” Abel stated.
He further elaborated that “Bitcoin’s transparency, scarcity, and independence make it the most resilient financial asset for the modern era, particularly as businesses strive for stability in a volatile macroeconomic climate.”
Integrating Healthcare Technology with Bitcoin Resilience
Known for its digital health platform that aids in alternative pain management, behavioral therapy, and medical cannabis treatment, KindlyMD has consistently aimed to empower patients through technology while improving healthcare outcomes.
Full release: https://t.co/GTilrSeGUf
“This merger represents a strategic leap for KindlyMD, allowing us to expand our mission. Nakamoto brings in a team with deep expertise in Bitcoin strategy and unparalleled access to the leading experts in Bitcoin treasury management,” said… pic.twitter.com/yxNirNM00B
— KindlyMD (@KindlyMD) May 12, 2025
The company has developed software tools that gather real-time data, monitor patient-reported outcomes, and facilitate efficient collaboration among healthcare providers. These offerings remain central to KindlyMD’s operational framework.
Following the merger, KindlyMD has embarked on a new venture into the realm of digital assets by converting a portion of its treasury reserves into Bitcoin. This marks the initial phase of a strategic approach aimed at capital preservation and growth over the long term.
The firm plans to allocate a portion of its operational profits to Bitcoin, establishing it as both a passive asset and a dynamic element of its financial ecosystem.
Additionally, the company has implemented a strict policy regarding its Bitcoin treasury, which includes storing assets in cold wallets, avoiding leveraged trading, and ensuring on-chain transparency by publicly disclosing its wallet addresses.
This merger has received unanimous approval from both Nakamoto Holdings and KindlyMD’s boards, pending shareholder approval from KindlyMD.
The agreement entails $510 million in gross proceeds from a private investment in public equity (PIPE) priced at $1.12 per share, consisting of common stock and pre-funded warrants in KindlyMD, along with $200 million generated through senior secured convertible notes maturing in 2028.
The financing is set to finalize alongside the merger, placing the combined entity in a position to take on Nakamoto Holdings’ existing obligations and partnerships, which include collaborative marketing services with BTC Inc., the publisher of Bitcoin Magazine and organizer of the annual Bitcoin Conference.
A Trend Towards Bitcoin Treasury Adoption
This merger aligns with a growing trend of corporations exploring Bitcoin treasury strategies, a movement recently echoed by companies such as Japan’s Metaplanet and the U.S.-based Semler Scientific. These firms are adopting Bitcoin not merely as a short-term investment, but as a robust, long-term hedge against financial unpredictability.
Bernstein predicts corporations could pour $330B into Bitcoin treasuries by 2029, following MicroStrategy’s lead in seeking new growth paths and hedging against market stagnation.#Bitcoin #Cryptohttps://t.co/EvdnReD2Bh
— Finance Newso.com (@Finance Newso) May 6, 2025
Recent estimates from Bernstein suggest that by 2029, corporate investments in Bitcoin could reach as high as $330 billion, with many firms following MicroStrategy’s precedent that brought attention to Bitcoin as a viable treasury asset.
Small-cap and low-growth companies are increasingly considering Bitcoin as a path to growth, with projections indicating these businesses could contribute $205 billion to the anticipated influx over the next five years.
While the Bitcoin treasury model isn’t universally applicable, it has attracted interest from companies with significant cash reserves looking for long-term value preservation. MicroStrategy’s success in this area, highlighted by its growing Bitcoin portfolio currently valued at $52.5 billion, serves as a strong endorsement of this strategy.
Institutional interest also continues to rise, evidenced by public companies collectively holding over 723,000 BTC, indicating a recognition of Bitcoin as a legitimate store of value.
Nevertheless, while adoption among private firms accelerates, state-level acceptance of Bitcoin remains cautious. Florida’s recent decision to withdraw proposed legislation that would have used state funds for Bitcoin investments highlights ongoing concerns regarding its volatility and fiscal integrity.
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