People pass the Advertising feature of Donald Trump along with Bitcoin in Hong Kong.
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Stocks Kindlymd It surged 350% on Monday after the healthcare company announced its merger with Nakamoto Holdings. Bitcoin An investment company founded by David Bailey, President Donald Trump’s leading cryptocurrency advisor.
The newly formed company secures $200 million in conversion obligations and $510 million in fresh capital through public equity (PIPE) transactions, offering $1.12 in each.
According to Bailey, the convertible memo has a pipe price premium, with investors buying the stock for $1.12, while the memo converts to $2.80. He added that the memo is a zero coupon for the first two years.
Since fund news was broken Wednesday, the project has attracted hundreds of millions of dollars with additional commitments, Bailey said.
“I raise about $100 million a day,” Bailey told CNBC. “I raised almost $200 million yesterday.”
The Rays received support from more than 200 investors including Actai Ventures, Arrington Capital, BSQ Capital Partners, Kingsway, Van Eck and Yorkville Advisors.
The roster of individual investors reads who is who in Bitcoin like Adam Buck, the crypto guy. Balaji Srinivasan, former Coinbase Executive; Bitmain co-founder Jihan Woo. Ricardo Salinas is a Mexican billionaire who has become one of Bitcoin’s most vocal supporters.
But KindlyMD’s foray into Crypto is even more odd considering the company built its brand around its fight against opioid addiction with holistic health services.
Bailey says his team is looking for a “proper vehicle” to reveal the Nakamoto masses, and KindlyMD’s leadership team was already full of Bitcoin enthusiasts.
“They believed in strategy,” Bailey said. “What KindlyMD will look like in the future is different from what it looks like today.”
He confirmed that the total company plans to rebrand, change ticker from “Kdly” and acquire Bitcoin native companies to build a global network of Bitcoin Holdings.
According to Bailey, the vision is to build a global network of Bitcoin-centric businesses, with the healthcare business ultimately playing a smaller role.
“This merger represents KindlyMD’s strategic leap and allows us to expand our mission,” said Tim Pickett, CEO of KindlyMD. “Nakamoto brings a team with deep expertise in Bitcoin strategy and unparalleled access to key Bitcoin financial management experts.”
Pickett, who continues to oversee KindlyMD’s health care operations, argued that the clinic is focusing on treating opioid addiction and providing patient-first care.
“This is a bold new vision that promotes long-term value for shareholders,” Pickett added.
Bitcoin is trading above $102,000pm on Monday, and it surged above $100,000 on Thursday for the first time since February.
Leading as CEO, Nakamoto will focus on acquiring and retaining Bitcoin. This is a popular strategy among investment companies that want to directly wager stocks on cryptocurrency prices.
“Our overall focus is on increasing Bitcoin per share,” Bailey told CNBC. “You’re selling one bitcoin greater than Bitcoin, or you’re buying bitcoin for less than Bitcoin.”
Bailey wasn’t the first to pursue this model. Michael Saylor’s strategy (formerly MicroStrategy) transformed from a software company into a de facto Bitcoin holding company in 2020, converting cash reserves to Bitcoin, and stocks surged as Bitcoin value surged.
But Bailey describes his vision as “strategy, squared.” Rather than simply retaining Bitcoin, Nakamoto aims to actively acquire and create Bitcoin finance companies in “all capital markets on the planet.”
Bailey pointed to existing transactions in Hong Kong, India, Canada and the UK. The company is also in discussions with partners in Saudi Arabia, Bahrain, the United Arab Emirates, the Netherlands, Taiwan and Argentina.
Bailey’s impact goes beyond business. He has visited the White House at least six times since Trump took office, including last week’s trip. According to anyone familiar with the issue. His role has positioned him within a cohort of cryptocurrency experts who advise on digital asset policies.
“I’m a huge advocate. I believe in him, his family and his administration,” Bailey told CNBC. “The President has provided us with all the promises he made to the Bitcoin industry…and I am forever grateful.”
When asked about his role, Bailey was clear: “When called out, I will provide you with the best feedback or counsel you can do with Bitcoin.”
Watch: How Trump “Orange Peak” by Puerto Rico’s Three Bitcoiners
