KindlyMD Merges with Nakamoto Holdings to Form Bitcoin Ministry of Finance
KindlyMD, a healthcare service provider, has joined forces with Nakamoto Holdings, a Bitcoin-centric holding company, with plans to establish the BTC Ministry of Finance.
As reported on May 12th, the merger is a collaborative effort led by David Bailey, who is recognized as a crypto advisor to former U.S. President Donald Trump. The newly formed entity aims to create the first global network of Bitcoin (BTC) finance companies.
“The world of traditional finance is merging with the Bitcoin market. We see Bitcoin securitization transforming the economic landscape, and we envision a future where all balance sheets, whether public or private, will incorporate Bitcoin.”
Long-term, the company intends to cultivate a network of Bitcoin-native businesses, covering sectors like media, advisory, and financial services, all geared towards enhancing Bitcoin’s practicality and adoption. This merger aims to boost Bitcoin accumulation and increase the BTC held per share.
Influenced by Industry Strategies
In a manner reminiscent of Michael Saylor’s approach with MicroStrategy, the new organization plans to leverage its equity, debt, and other financial avenues to realize its ambitions. The merger announcement indicates that the company will offer “market exposure to Bitcoin through a transparent and compliant structure.”
Bailey mentioned that a primary goal is to “place Bitcoin at the center of the global capital market,” integrating it into various financial instruments such as equities, debt, and preferred stocks.
“Our mission is straightforward: launch these instruments across every major stock exchange worldwide.”
Funding Details
KindlyMD’s shares will continue to be traded on Nasdaq under the ticker symbol “Kdly,” though the newly formed company will adopt a new name and ticker symbol.
The transaction involves $710 million in total funding, which includes $510 million generated from private placements of public equity, priced at $1.12 per share. Additionally, there’s a general income of $200 million from common stock along with advanced funding through secured convertible notes set to mature in 2028.
Both boards from KindlyMD and Nakamoto Holdings have unanimously endorsed the deal, which will also require approval from KindlyMD’s shareholders. The finalized merger is expected to conclude soon, enabling the newly combined entity to take on Nakamoto Holdings’ responsibilities and business connections, including promotional services from BTC Inc., known for publishing Bitcoin Magazine and organizing the annual Bitcoin Conference.
