Nakamoto Holdings, co-founded by Bitcoin Magazine CEO David Bailey, is merging with healthcare firm KindlyMD to establish a new Bitcoin treasury. They successfully raised $710 million, comprised of $510 million through private investment in public equity and $200 million in convertible debt. This deal marks the largest public crypto transaction to date, attracting over 200 investors, including prominent firms such as Actai Ventures and Arrington Capital. Bailey, who previously advised President Trump on crypto policy, will serve as the CEO of this new entity, which aims to create a global network of Bitcoin treasury companies to promote Bitcoin adoption. KindlyMD, prior to this merger, focused on addressing the opioid crisis with innovative health services. Bitcoin treasury companies, like this new venture, aim to invest in and hold Bitcoin, following the lead of firms like Strategy (formerly MicroStrategy), which became a notable example by branding itself as a Bitcoin treasury.

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