Emre Yumlu 
Nakamoto Holdings, founded under the leadership of David Bailey — crypto adviser to U.S. President Donald Trump — has successfully raised $51.5 million in new funding. The goal? To accelerate the company’s Bitcoin-focused treasury strategy. The capital was secured through a private investment in public equity (PIPE) agreement.
According to a statement from KindlyMD, which is currently undergoing a merger with Nakamoto Holdings, the entire fundraising process was completed in less than 72 hours. Bailey emphasized that the overwhelming demand from investors is a clear sign of confidence in their strategic direction:
“Investor appetite is incredibly strong,” Bailey noted. “Our mission is clear: raise as much capital as possible to accumulate as much Bitcoin as possible.”
The shares in this financing round were priced at $5.00 each, raising KindlyMD’s total capital to approximately $563 million, or $763 million when including convertible notes.
Building a Bitcoin-Focused Treasury Is the Core Strategy
Nakamoto Holdings was established with a direct purpose — to build a Bitcoin reserve. Despite ongoing market fluctuations and mixed sentiment around crypto, the company follows the footsteps of other institutional players adopting BTC as a balance sheet asset.
The newly raised funds will be primarily directed toward purchasing Bitcoin, with a portion also allocated for operational costs and general corporate activities.
This round of financing is expected to close concurrently with the company’s anticipated merger with KindlyMD, which is currently traded on the Nasdaq under the ticker symbol “NAKA”.
Last month, KindlyMD shareholders officially approved the merger. Both firms will file informational disclosures with the SEC, with the merger scheduled for Q3 2025.
Initially announced on May 12, the joint entity plans to leverage a combination of equity, debt, and strategic investments to support a range of Bitcoin-native ventures. The newly formed organization also aims to strengthen its treasury by steadily adding more Bitcoin.
Institutional Bitcoin Adoption on the Rise
Data from BitcoinTreasuries.NET shows that at least 27 companies have added Bitcoin to their treasuries over the past month. This trend suggests that interest in Bitcoin remains robust among public corporations.
Still, not all experts are equally optimistic. Fakhul Miah, from GoMining Institutional, believes that some smaller companies may be adopting Bitcoin not as a well-thought-out strategy but out of necessity, potentially lacking adequate risk protection measures.
Similarly, Standard Chartered has raised caution, warning that if the price of Bitcoin falls below $90,000, nearly half of these firms could face liquidity risk — a scenario that could damage the overall reputation of the crypto industry.
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