preCharge News BUSINESS — Shares of KindlyMD surged 600% on Monday after the healthcare company announced a merger with Nakamoto Holdings, a Bitcoin investment firm led by David Bailey, a key cryptocurrency advisor to President Donald Trump. The deal, which includes $200 million in convertible debt and $510 million from a private investment in public equity (PIPE) deal, marks a significant pivot for KindlyMD, traditionally known for its focus on combating opioid addiction.

Massive Capital Infusion Fuels Ambitious Expansion

The merger comes with a hefty capital boost, including $200 million in convertible debt and $510 million from a PIPE deal, with shares priced at $1.12 each. The funding round attracted over 200 investors, a mix of institutional powerhouses and high-profile Bitcoin veterans, including Actai Ventures, Arrington Capital, BSQ Capital Partners, Kingsway, Van Eck, and Yorkville Advisors.

The individual backers read like a who’s who of the Bitcoin world: cryptographer Adam Back, former Coinbase executive Balaji Srinivasan, Bitmain co-founder Jihan Wu, and Mexican billionaire Ricardo Salinas — all early and outspoken Bitcoin advocates.

Bitcoin’s Meteoric Rise Adds Fuel to the Rally

Bitcoin itself has been on a tear, crossing $100,000 on Thursday for the first time since February and reaching $104,000 on Monday morning. This surge likely fueled the sharp rise in KindlyMD’s stock, as investors scrambled to gain exposure to the cryptocurrency through traditional equity markets.

Shares of KindlyMD, which continue to trade under the “KDLY” ticker, will eventually be rebranded as the newly combined company adopts a fresh identity and ticker symbol to reflect its crypto-first strategy.

New Strategy Echoes MicroStrategy’s Bold Bet

Nakamoto, led by Bailey as CEO, aims to transform KindlyMD into a direct Bitcoin play, a strategy reminiscent of MicroStrategy’s dramatic pivot in 2020 under CEO Michael Saylor. That move, which saw Saylor’s firm convert its cash reserves into Bitcoin, triggered a multi-year stock rally as the cryptocurrency’s price skyrocketed.

Bailey is betting that the trend will continue. “We believe a future is coming where every balance sheet — public or private — holds Bitcoin,” he said in a press release announcing the deal.

Healthcare and Crypto: A Strange but Profitable Pairing

The merger has raised eyebrows, as KindlyMD has built its brand around holistic health services and opioid addiction treatment, a stark contrast to the high-risk, high-reward world of cryptocurrency. However, KindlyMD CEO Tim Pickett insists the merger aligns with the company’s long-term vision.

“This merger represents a strategic leap for KindlyMD, allowing us to expand our mission,” Pickett said. “Nakamoto brings in a team with deep expertise in Bitcoin strategy and unparalleled access to the leading experts in Bitcoin treasury management.”

Pickett also confirmed that KindlyMD will continue its healthcare operations, emphasizing that the clinics will remain focused on treating opioid addiction and offering patient-first care.

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Associated Press, CNBC News, Fox News, and preCharge News contributed to this report.