Nakamoto and KindlyMD dem merge for Nasdaq Bitcoin Treasury
Nakamoto, wey Trump adviser David Bailey start, don merge wit healthcare company KindlyMD to create one Bitcoin treasury business wey dem list for Nasdaq under the ticker NAKA. David Bailey go be CEO and chairman, while former KindlyMD CEO Tim Pickett go be chief medical officer. Di combined company wan gather 1 million BTC, to become one of di top Bitcoin treasury holders. After di shares rally reach three-digit since May 12, NAKA shares jump 13.4% becos of di merger news. Di company get only 21 BTC for balance sheet but e go use $540 million from recent PIPE financing to buy about 4,544 BTC and e dey plan to finish $200 million convertible note offering. New board dey include Eric Weiss, Mark Yusco, Greg Xethalis and Perianna Boring. Dis move dey mirror wetin big institutions like MicroStrategy, BlackRock and Fidelity dey do, showing say Bitcoin adoption get better future.
Bullish
Dis merger dey create one Nasdaq-listed Bitcoin treasury vehicle wey get ambitious BTC accumulation targets and plenty financing, wey likely go drive buying pressure and positive market feeling. For short term, to deploy $540 million for PIPE funds to buy about 4,544 BTC and the coming $200 million convertible note offering fit support price to go up. Long term, to join institutional holders like MicroStrategy, BlackRock and Fidelity mean say adoption dey grow, e dey make the outlook on Bitcoin market demand and price trajectory dey bullish.