Nakamoto, founded by David Bailey, has completed its merger with healthcare company KindlyMD, creating a publicly traded Bitcoin treasury with the ambitious goal of accumulating 1 million Bitcoin.
Merger of Nakamoto and KindlyMD
The merger will allow the company to continue operating under the KindlyMD name, with Nakamoto functioning as a wholly-owned subsidiary. David Bailey will remain the CEO of the merged entity, while KindlyMD's former CEO, Tim Pickett, will serve as chief medical officer.
Plan for Bitcoin Accumulation
KindlyMD aims to accumulate 1 million Bitcoin to make it more accessible to investors and build various Bitcoin-based products to assist corporate and government adoption of the asset.
Updates and NAKA Share Surge
Following the merger announcement, KindlyMD's shares surged by 13.4%, reaching $15.02, bolstering its market capitalization to $114.25 million. Published data indicates a continuing positive trend in the stock prices of companies actively acquiring Bitcoin.
The merger between Nakamoto and KindlyMD marks an important step in the effort to accumulate Bitcoin and create products based on it, which may promote broader adoption of this asset in the market.
