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KindlyMD Makes Significant Bitcoin Purchase to Expand Reserves

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by Giorgi Kostiuk

2 hours ago

Health facility KindlyMD, through its subsidiary Nakamoto Holdings Inc., has acquired 5,744 BTC for approximately $679 million. This marks their first purchase since the merger was completed in July.

Merger and Financing

KindlyMD made the Bitcoin purchase using funds accumulated through private investment and debt financing. On August 15, they completed a $200 million senior convertible note offering with Yorkville Advisors.

Bitcoin as a Reserve Asset

According to the company's CEO David Bailey, the purchase affirms their confidence in Bitcoin as a reserve asset. They aim to accumulate up to one million BTC via Nakamoto Bitcoin Treasury.

Stock Performance and Corporate Reserves

KindlyMD's stock (NAKA) rallied by 6% in the premarket following the announcement but later fell by 8.8%. Their holding of approximately 5,744 BTC places them among the top 20 corporate Bitcoin holders.

The transaction has fortified KindlyMD's position in corporate Bitcoin reserves, which may enhance its market value in the future.

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