In short
- Nakamoto co-founder Trump Crypto advisor David Bailey will help form a new Bitcoin Treasury.
- The new treasury will form a merger between posture company Nakamoto and Healthcare Firm Kindlymd.
- The companies collected $ 200 million in convertible debts and $ 510 million from investors to launch the new entity.
Nakamoto Holdings, a holding company that was co -founded by Bitcoin Magazine CEO David Bailey, is an agreement concluded with Healthcare firm KindlymD (Nasdaq: KDLY) to form a new Bitcoin Treasury, the companies said Monday.
To raise money for the new treasury, the companies have collected $ 710 million – $ 510 million through private investments in public equity and $ 200 million in convertible banknotes. The announcement added that it was the largest public crypto transaction and attracted more than 200 investors, including Actai Ventures, Arrington Capital and BSQ Capital Partners.
Bailey advised President Trump on his Crypto policy from 2024 while the Republican campaigned. He will be the CEO of the new Bitcoin Treasury.
The announcement said that the merger “would build the first global network of Bitcoin Treasury companies” to accelerate “Bitcoin acceptance and usefulness”.
Bailey said in a statement: “Bitcoin’s securitization will again sign the world’s economic map. We believe that there will be a future where every balance – public or private – holds Bitcoin.”
Decrypt handed to Bailey for comment.
KindlymD is a care company that was not related to the crypto space before the announced merger of Monday. The company said it would continue to concentrate on his mission to “fight the opioid crisis through innovative, holistic health services.”
Bitcoin Treasury companies are companies that buy the largest cryptocurrency and have per market capitalization. Nasdaq-Genten Strategy-Formly MicroStrategy is the first large company to label itself as a Bitcoin Treasury.
The software company was running its Software Focus in 2020 and now offers investors a way to get exposure to the active without buying Bitcoin itself.
Last month, Crypto and Financial Services Giants Tether, Bitfinex, Cantor Fitzgerald and Softbank Group announced that they would do to collaborate To launch twenty-one, a company-oriented company that is planned to launch with a treasure chest of more than 42,000 BTC or worth $ 3.9 billion.
The shares of Kindlymd recently acted more than 300% higher on the news.
Published by James Rubin
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