There’s a new company hitting the Nasdaq focused on accumulating Bitcoin. And they’re getting started with hundreds of millions of dollars.
What’s happening:
- Nakamoto Holdings has entered into a new merger agreement with KindlyMD (NASDAQ: KDLY) to begin accumulating Bitcoin to hold directly as an asset
By the numbers:
- KindlyMD has raised $510M USD as part of the new merger in an equity financing round
- KindlyMD has also raised $200M USD through secured convertible notes
Why it matters:
- Nakomoto Holdings is founded by David Bailey, who currently operates highly popular media company Bitcoin Magazine and has made investments into leading digital asset companies including Kraken and Coinbase (NASDAQ: COIN)
Going deeper:
- Some of the largest venture capital funds focused on crypto participated in the new financing round for KindlyMD, including ParaFi, Off The Chain Capital and others
- Multiple notable angel investors also participated in the funding round, including Adam Back and Balaji Srinivasan
The intrigue:
- Nakamoto Holdings is named after Bitcoin creator Satoshi Nakamoto
