KindlyMD, the healthcare company that NASDAQ, which recently merged with Bitcoin Treasury Company Nakamoto, said it plans to raise as much as $5 billion in shares to expand its Bitcoin (BTC) reserves.
We filed shelving registrations with the Securities and Exchange Commission for our market inventory program, allowing us to gradually issue shares at a general price.
Revenues may fund additional Bitcoin purchases and may also support acquisitions of other companies and technologies.
First Financial Purchase
KindlyMD launched its Bitcoin Reserve Strategy earlier this month, revealing its first purchase of around 5,744 Bitcoin, $635 million.
The company said future acquisitions will depend on market conditions and company priorities.
Following the announcement, Naka has reduced 12% by 12% to $8.07, pressured by a new stock plan and a recent decline in Bitcoin.
The world's largest cryptocurrency fell by more than 10%, surpassing $123,000 in mid-August. At the time of reporting, BTC was trading at $111,250 based on Encryption data.
Some of the bigger trends
KindlyMD's pivot will be added to the growth list of publicly traded companies that employ Bitcoin as their balance sheet asset.
This strategy was prevalent due to Michael Saylor and his solid strategy. With its success, several companies, from payment companies to small businesses, are trying to diversify their reserves through Bitcoin.
Supporters have argued that Bitcoin serves as a hedge against inflation and currency devaluation, but critics have warned that its volatility poses a significant risk.
For KindlyMD, the move could underscore the increasing blurring of non-financial companies' boundaries between corporate strategy and digital asset investment, deepen exposure to the crypto market and reconstruct how financial management is seen in traditional industries.
