KindlyMD Completes First Bitcoin Purchase After Merger With $679 Million Acquisition

KindlyMD bought 5,744 Bitcoin for $679 million in its first post-merger move toward a one million Bitcoin goal.

Deniz Saat

August 20, 2025 @ 9:14 AM PT

Salt Lake City–based KindlyMD (NASDAQ: NAKA) has acquired 5,744 Bitcoin for about $679 million, its first purchase since merging with Nakamoto Holdings earlier this month.

Update: KindlyMD adds 5,744 BTC to the Nakamoto Bitcoin Treasury. pic.twitter.com/D92nZxGZnq
— Nakamoto (@nakamoto) August 19, 2025

The Bitcoin was bought at an average price of $118,204 per coin using proceeds from a private investment in public equity (PIPE), bringing the company’s total holdings to 5,764.91 Bitcoin.

KindlyMD described the move as part of a “disciplined Bitcoin treasury strategy.”

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

He added that the company’s long-term objective of acquiring one million Bitcoin reflects its view that “Bitcoin will anchor the next era of global finance.”

Bailey has also been active in Bitcoin and digital asset policy, previously serving as a crypto adviser during Donald Trump’s presidential campaign.

Earlier this month, he announced plans to raise $200 million for a political action committee (PAC) supporting Bitcoin initiatives in the United States.

Following its merger with Nakamoto Holdings, KindlyMD now combines its healthcare services with Nakamoto’s Bitcoin-focused strategy, creating a publicly traded company that operates in both healthcare and Bitcoin treasury management.