Healthcare Firm Buys 5,700+ BTC in $679M Treasury Move
KindlyMD, Inc. (NASDAQ: NAKA), a Salt Lake City–based healthcare provider, has made a bold entry into the crypto market with a $679 million Bitcoin purchase.
The company acquired 5,743.91 BTC through its wholly owned subsidiary, Nakamoto Holdings, marking its first major move since completing a recent merger. The coins were bought at an average price of $118,204.88 each.
Funding for the purchase came from a Private Investment in Public Equity (PIPE), which allowed KindlyMD to build its Bitcoin position without taking on debt.
CEO and Chairman David Bailey described the acquisition as a key part of the firm’s new treasury strategy. “This reinforces our conviction in Bitcoin as the ultimate reserve asset for corporations and institutions alike,” Bailey said. He added that the company’s long-term mission is to accumulate one million Bitcoin, positioning it at the centre of what it sees as the future of global finance.
The purchase falls under KindlyMD’s Nakamoto Bitcoin Treasury program, which aims to give institutions a secure and transparent way to hold large volumes of Bitcoin.
The move also places KindlyMD among a growing list of corporations adding Bitcoin to their balance sheets. Software firm MicroStrategy, a pioneer of this strategy, now holds more than 600,000 BTC valued at roughly $53.5 billion, according to Arkham data.
By pairing its healthcare services with a Bitcoin-focused treasury structure, KindlyMD is carving out a dual identity as both a medical services provider and a corporate crypto innovator.
