Shares of healthcare company KindlyMD (ticker: KDLY) saw a notable uptick recently after its shareholders gave the green light to a merger with Nakamoto Holdings, a Bitcoin-focused company founded by David Bailey — who serves as a cryptocurrency advisor to former US President Donald Trump.
This development was confirmed in a statement from KindlyMD on May 20, revealing that both companies plan to submit detailed information filings to the Securities and Exchange Commission (SEC) as part of the regulatory process. The merger is anticipated to close roughly 20 days after shareholders receive the disclosure materials, with the finalization expected to take place during the third quarter of 2025.
The stock market reacted favorably to the announcement, with KindlyMD shares climbing by 9% during the May 20 trading session to close at $15.22. Impressively, the gains continued into after-hours trading, adding another 4.8%, demonstrating strong investor confidence in the merger’s potential. To put this surge into perspective, KDLY’s stock price has skyrocketed over 970% year-to-date, reflecting heightened enthusiasm around the company’s pivot towards crypto-related ventures.
What the Merger Means
Nakamoto Holdings, the Bitcoin-focused entity spearheaded by Bailey, aims to build a comprehensive network of businesses centered on Bitcoin and blockchain technology. Once merged, the combined company intends to leverage a mix of equity, debt financing, and other instruments to fuel the creation and expansion of multiple Bitcoin-native subsidiaries.
A key part of this strategy includes boosting the corporate treasury with Bitcoin assets, underscoring a growing trend among public companies seeking exposure to digital currencies as part of their financial strategies. This move indicates KindlyMD’s transition from a healthcare services provider towards becoming a significant player in the Bitcoin ecosystem.
The Bigger Picture: Corporate Bitcoin Accumulation
KindlyMD’s pivot fits into a broader pattern of public companies aggressively adding Bitcoin to their balance sheets. According to data from Bitcoin investment firm River, institutional investors and corporations have increasingly outpaced retail investors and ETFs in accumulating BTC holdings.
For instance, Vivek Ramaswamy’s Strive asset management recently announced plans to acquire Bitcoin claims linked to the bankrupt Mt. Gox exchange, targeting up to 75,000 BTC at discounted rates. This kind of acquisition could potentially position Strive as one of the largest Bitcoin holders outside the traditional exchange landscape.
Similarly, Strategy, the company formerly known as MicroStrategy, made headlines when it purchased approximately 7,390 BTC for $765 million last week. However, Strategy’s leadership is currently embroiled in a class-action lawsuit alleging that they misrepresented the nature of their Bitcoin holdings to shareholders, highlighting the legal complexities surrounding large-scale crypto investments.
Meanwhile, stablecoin issuer Tether has also stepped up its Bitcoin buying spree by acquiring nearly $459 million worth of BTC on behalf of Twenty One Capital, a Bitcoin investment firm supported by Tether. Twenty One Capital is preparing for a merger with Cantor Equity Partners via a Special Purpose Acquisition Company (SPAC), marking another significant institutional push into crypto.
A Strategic Bet with Political Overtones?
Given David Bailey’s role as a crypto advisor to Donald Trump, this merger carries a political undercurrent. While KindlyMD’s shift towards crypto investments aligns with broader market trends, the connection to Trump’s circle adds an intriguing layer of political and strategic influence to the narrative.
For investors and market watchers, the KindlyMD-Nakamoto deal symbolizes more than just a business combination — it marks a convergence of health services, Bitcoin innovation, and political networks that could reshape how cryptocurrency integrates into mainstream corporate and political spheres.
