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KindlyMD Stock Plunges 13% After $679M Bitcoin Purchase
Healthcare company KindlyMD has acquired 5,743.91 
$BTC for $679 million at an average price of $118,205 per coin through subsidiary Nakamoto Holdings. The stock dropped over 13% following the announcement.
The company completed its merger with David Bailey's Nakamoto Holdings on Friday, marking KindlyMD's first major $BTC investment. Bailey, who advised President Trump on crypto policy, aims to acquire 1 million $BTC total.
KindlyMD raised $200 million via convertible notes and another $540 million through private placement to fund its Bitcoin treasury strategy. The company follows #Strategy's playbook of raising cash to buy $BTC for regulated exposure.
CEO Bailey called $BTC "the ultimate reserve asset for corporations and institutions alike." The purchase represents a small fraction of the company's ambitious 1 million #Bitcoin accumulation target.
