KindlyMD Stock Soars After Shareholders Approve Bitcoin Treasury Strategy With Nakamoto Merger Led By Trump Crypto Advisor

KindlyMD (KDLY) shares surged as much as 20% on Wednesday afternoon after the company announced that its shareholders had approved its proposed merger with Nakamoto Holdings.

The merger with Nakamoto, a Bitcoin (BTC)-native holding company, is KindlyMD’s pivot to a Bitcoin-holding strategy for its treasury. Nakamoto is founded by David Bailey, a key cryptocurrency advisor to President Donald Trump, who will also lead the combined entity. 

As part of the transaction, the parties will file an information statement with the Securities and Exchange Commission (SEC). The merger is expected to close 20 days after it is mailed to KindlyMD shareholders.

 “As a combined company, we are excited to leverage Bitcoin’s dominance and real-world utility to strengthen our company and drive sustained long-term value for our investors,” said KindlyMD CEO Tim Pickett.

The combined entity will adopt a Bitcoin treasury strategy aimed at accumulating and growing Bitcoin on a per-share basis, also called "Bitcoin Yield."

According to the company, more than 200 investors participated in the transaction’s funding round, which includes $510 million in private placement equity and $200 million in convertible debt. 

According to Pickett, the merger allows the company to preserve and expand its mission to combat opioid dependency through alternative medicine while gaining a new engine for shareholder value creation.

Bitcoin’s price surged to a new all-time high of $109,565 on Wednesday morning. The apex cryptocurrency has since pared its gains, trading at around $106,800 in the afternoon. 

Riding the wave of companies following Strategy’s (MSTR) footsteps, KindlyMD’s stock has gained over 1,500% this year.

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Read also: Bitcoin Soars To New All-Time High, Blasts Past $109,000