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KindlyMD (NASDAQ: NAKA) has made its initial purchase of 21 Bitcoin at a weighted average price of $109,027 per Bitcoin, totaling approximately $2.3 million. The purchase was funded through warrant exercises that generated $8.7 million in gross proceeds and resulted in the issuance of 1,437,362 common shares.
This strategic move aligns with KindlyMD's vision to implement a Bitcoin treasury strategy through its proposed merger with Nakamoto Holdings Inc., a Bitcoin-native holding company. The company specifically chose 21 BTC, representing one millionth of Bitcoin's total supply, as a symbolic first step toward becoming a leading Bitcoin treasury.
The announcement comes ahead of the 2025 Bitcoin Conference in Las Vegas, with management expressing confidence in Bitcoin as a store of value and citing strong investor support for the merger through warrant redemptions.