People pass the Advertising feature of Donald Trump along with Bitcoin in Hong Kong.
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Stocks Kindlymd It surged 600% 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.
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.
Bitcoin was trading above $104,000 on Monday morning. Crytocurrency prices exceeded $100,000 on Thursday for the first time since February.
KindlyMD shares will continue to trade under the “kdly” ticker. The total company expects the name to change and gets a new ticker symbol.
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.
“We believe there is a future coming when all balance sheets (public or private) hold Bitcoin,” Bailey said in a press release.
Bailey wasn’t the first to pursue this model. Michael Saylor’s strategy (formerly MicroStrategy) transformed from a software company into Bitcoin Holding Firm in 2020, converting cash reserves to Bitcoin and watching Skyrocket as Bitcoin’s value soared.
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.
“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.
Watch: How Trump “Orange Peak” by Puerto Rico’s Three Bitcoiners
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