KindlyMD, a Nasdaq-listed company, has announced a stock sale of up to $5 billion, part of which will be directed towards expanding Bitcoin reserves.
Flexible Stock Sale Strategy
KindlyMD has introduced an at-the-market (ATM) stock sale program, allowing the company to raise capital at different times without needing separate approvals for each issuance. This gives the company the ability to gather funds from the market at its discretion.
Focus on Increasing Bitcoin Reserves
The funds raised from this sale will be primarily aimed at increasing Bitcoin reserves. The company recently merged with Nakamoto Holdings, activating a strategy in the crypto space that led to the acquisition of 5,744 BTC.
Growing Trend of Corporate Bitcoin Reserves
KindlyMD’s initiative aligns with the increasing interest among companies to add cryptocurrencies to their balance sheets, a trend notably championed by Michael Saylor’s firm. Many businesses are diversifying their portfolios by including various cryptocurrencies such as Bitcoin, Ethereum, Solana, BNB, and XRP.
Currently, KindlyMD shares (NAKA) closed the trading day on a 12% decrease at $8.07, while the Bitcoin price saw a 0.94% increase, trading at $111,263.
