KindlyMD Surges 706% on Nakamoto Merger for Bitcoin Treasury (1)

(Updates with share price move and David Bailey comment.)

KindlyMD shares gained as much as 706%, the most on record, after the health care services company agreed to merge with Bitcoin holding company Nakamoto Holdings Inc. to start a Bitcoin treasury strategy. Many companies have shifted into buying and holding Bitcoin on their balance sheet, which was popularized by Michael Saylor’s Strategy.

• Combined company will buy Bitcoin and try to increase Bitcoin yield through equity, debt and other offerings
• “There are many different major capital markets that do not have a Bitcoin treasury company, and so part of ...