Nakamoto Holdings, established by David Bailey, who advises former US President Donald Trump on cryptocurrency, has acquired $51.5 million in new capital via private placement of public equity transactions. This information comes from their merger partner, KindlyMD.
Bailey mentioned that these funds are expected to be raised within 72 hours, indicating a strong interest among investors in Nakamoto’s Bitcoin accumulation strategy.
“Investor demand for Nakamoto is quite robust,” Bailey noted. “We’re continuously working on strategies to raise as much capital as we can to acquire more Bitcoin.”
With shares priced at $5.00 each, this funding round will increase KindlyMD’s total funding to about $563 million, or $763 million when including convertible notes.
Nakamoto aims to establish a Bitcoin Ministry of Finance
Nakamoto is following business models similar to other companies looking to hold Bitcoin as a reserve asset. The firm, which started earlier this year, has a clear objective of developing a significant Bitcoin Treasury, regardless of mixed feelings in the larger market.
The proceeds from this latest funding are primarily earmarked for purchasing Bitcoin, with some set aside for working capital and general corporate needs. The funding round is planned to coincide with the anticipated merger with KindlyMD, which will be listed on Nasdaq as Naka.
Last month, KindlyMD’s shareholders approved the merger with Nakamoto Holdings. The firms are expected to file an information statement with the SEC, aiming to finalize the merger by the third quarter of 2025.
The merger was initially announced on May 12, with plans for the combined companies to leverage equity and debt to create a number of Bitcoin-focused businesses. Additionally, they aim to enhance their financial strategies by accumulating Bitcoin.
More companies are adding Bitcoin to their balance sheets
Recently, at least 27 organizations have incorporated Bitcoin into their financial plans, according to data from Bitcointreasuries.net.
However, some analysts express skepticism. Fakhul Miah from Gomining Institutional remarked that smaller businesses might adopt Bitcoin more out of necessity than strategy, often lacking proper safeguards.
Standard Chartered raised concerns too, indicating that if Bitcoin dips below $90,000, many of these companies could face liquidation risks—raising reputational issues for the wider cryptocurrency market.
