KindlyMD just unveiled a $681 million Bitcoin treasury war-chest containing 5,765 BTC — instantly making it one of the top-20 largest corporate Bitcoin holders on Earth.
Boom! KindlyMD (NASDAQ: NAKA) dropped the mother of all Q3 surprises: after completing its merger with Nakamoto Holdings, the company acquired 5,765 Bitcoin at an average price of $118,204 — a total cost basis of roughly $681 million. Now holding ~5,398 BTC after strategic investments, with Bitcoin trading around $92,000 as of this writing, that treasury is currently valued at over $530 million and vaults NAKA straight into the big leagues of public-company Bitcoin holders.
This isn’t a side hustle. The former Utah healthcare provider (think pain management, mental health, weight-loss clinics) used $540 million in fresh private placement cash plus $200 million in convertible notes to go full crypto-native overnight. They’re not just stacking sats either — they’re spreading the love: $15M into Netherlands’ Treasury BV, $30M into Japan’s Metaplanet, and another $6M into Switzerland’s FUTURE Holdings AG. It’s like they’re assembling the Avengers of global Bitcoin treasuries.
Yes, legacy healthcare revenue dipped to $0.4M and they booked an $86M net loss (mostly non-cash mark-to-market and merger costs), but who’s counting pennies when you’re sitting on half a billion dollars of the hardest money ever created? A freshly filed $5 billion ATM program already raised $5.6M more, signaling the Bitcoin buying spree is just getting warmed up.
We’ve seen this movie before and it usually ends with fireworks. Check how we covered Metaplanet’s monster run in Japan’s Bitcoin Beast or the broader tsunami in Top 10 Public Companies Hoarding BTC — the playbook is identical and the results speak for themselves.
How the Market Reacted When Others Did This
MicroStrategy: +1,000% in 12 months after first BTC buy. Semler Scientific: +300% in weeks after announcing Bitcoin as primary reserve. Metaplanet: +500% since treasury pivot. GameStop: +15-40% pops on every new BTC purchase announcement.
The pattern is crystal clear — when a public company commits serious capital to Bitcoin, the market rewards the conviction with explosive moves. NAKA closed at $0.53 as of this writing (still digesting the merger), but with ~5,398 BTC now on the balance sheet and more capital incoming, history says the ride could get very wild, very fast.
Bottom line: KindlyMD didn’t just add Bitcoin to the treasury — they turned the entire company into a publicly traded Bitcoin accumulation machine. Buckle up.
All prices and holdings as of November 20, 2025. Not investment advice — just the facts served hot.
