Nakamoto Holdings, a Bitcoin holding company founded by U.S. President Donald Trump's cryptocurrency advisor David Bailey, has secured $51.5 million in new capital through a public equity private placement (PIPE), as announced by its merger partner KindlyMD.
David stated that this new funding was raised in less than 72 hours, reflecting growing investor interest in Nakamoto's Bitcoin (BTC) accumulation strategy.
"Investor demand for Nakamoto is very strong," David said. "We will continue to execute our strategy to raise as much capital as possible to acquire as much Bitcoin as possible."
The financing was priced at $5.00 per share, bringing KindlyMD's total financing to approximately $563 million, or $763 million when including convertible bonds.
Nakamoto's strategy is similar to other corporate entities aiming to utilize BTC as a reserve asset. The company launched earlier this year with a clear goal of building a substantial Bitcoin reserve, despite mixed market sentiment.
The funds from this latest round of financing will primarily be used for Bitcoin purchases, as well as for working capital and general corporate needs. This PIPE financing is expected to be completed alongside KindlyMD's merger, which trades on NASDAQ under the ticker NAKA.
Last month, shareholders of medical services company KindlyMD approved the merger with Nakamoto Holdings. The two companies plan to submit an information statement to the U.S. Securities and Exchange Commission (SEC), with the merger expected to be completed in the third quarter of 2025.
The two companies first announced the merger on May 12, stating that the combined entity would develop a range of Bitcoin-centric companies through equity, debt, and other means. Additionally, the company will enhance its reserves by accumulating Bitcoin.
According to BitcoinTreasuries.NET, at least 27 organizations have added Bitcoin to their balance sheets in the past month, indicating continued interest in BTC among publicly traded companies.
However, some analysts are skeptical. Fakhul Miah from GoMining Institutional pointed out that smaller companies may be adopting Bitcoin out of necessity rather than strategy, potentially lacking proper safeguards.
Standard Chartered has also expressed concerns, warning that if BTC prices fall below $90,000, half of these companies could face liquidation risks, posing reputational challenges for the broader crypto market.
Related: Adam Back: Michael Saylor's Strategy Stock Premium is Not "Unreasonable"
Original: “Nakamoto Holdings Raises $51M to Expand Bitcoin (BTC) Treasury Strategy”
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