Two Companies Announce Bitcoin Purchase Strategy – Here’s How Much They Plan to Buy

KindlyMD and Nakamoto Holdings have announced that they have raised an additional $51.5 million private equity investment (PIPE) to support their Bitcoin treasury strategy. With this latest investment, total PIPE financing reached $563 million and $763 million with convertible notes. NASDAQ-listed KindlyMD (NAKA) announced this new financing as part of its planned merger with Nakamoto Holdings, a Bitcoin-focused holding company. The company plans to use the funds to purchase Bitcoin and provide working capital. Related News: This Altcoin May Have Had Sales from the Developer's Wallet - They Still Have a Large Amount of Tokens Nakamoto CEO David Bailey, noting the high demand from investors, said, “This additional funding was raised in less than 72 hours. Our goal is to acquire as much Bitcoin as possible by raising as much capital as possible.” The investment was made through a fully committed PIPE financing priced at $5 per share and comprised of KindlyMD common shares. The PIPE proceeds are intended to be used for Bitcoin purchases as well as general corporate expenses and working capital. The financing is expected to close simultaneously with the merger between KindlyMD and Nakamoto. *This is not investment advice. Continue Reading: Two Companies Announce Bitcoin Purchase Strategy – Here’s How Much They Plan to Buy