Bitcoin
David Bailey’s Nakamoto Holdings Raises $710M, Merges with KindlyMD to Launch Bitcoin Treasury
David Bailey’s Nakamoto Holdings Raises $710M, Merges with KindlyMD to Launch Bitcoin Treasury
On May 12, 2025, Nakamoto Holdings, a Bitcoin-native holding company founded by David Bailey, announced a $710 million capital raise and a merger with healthcare provider KindlyMD (NASDAQ: KDLY) to establish a public Bitcoin treasury strategy. The deal, comprising $510 million in private investment in public equity (PIPE) and $200 million in convertible notes, marks the largest capital raise for a Bitcoin treasury to date.
David Bailey, CEO of BTC Inc. and a key cryptocurrency advisor to President Donald Trump, will lead the combined company as CEO. The entity aims to accumulate Bitcoin and enhance “Bitcoin Yield” per share through equity and debt offerings, positioning itself as a leader in integrating Bitcoin into global capital markets. KindlyMD’s healthcare operations, focused on holistic care and opioid reduction, will continue under CEO Tim Pickett.
The PIPE attracted over 200 global investors, including VanEck, ParaFi, and prominent Bitcoin figures like Adam Back and Balaji Srinivasan. KindlyMD shares surged 650% in premarket trading following the announcement. The merger, subject to shareholder and regulatory approval, will see the combined company trade under a new name and ticker, replacing KDLY.
Bailey envisions Nakamoto as a pioneer in Bitcoin-backed financial instruments, stating, “We stake that legacy on Nakamoto,” drawing parallels to historic financial institutions like Medici and Rothschild. This bold move signals growing institutional adoption of Bitcoin as a treasury asset.
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Bitcoin
Bitcoin Tops $65,000 Ahead of Key U.S. Inflation Data as Spot ETFs Post Strongest Weekly Inflows Since April
Bitcoin climbed above the psychologically important $65,000 level on Monday, extending nearly 3% gains over the prior week after a weaker-than-expected U.S. jobs report reduced near-term pressure for further Federal Reserve rate hikes.
The world’s largest cryptocurrency traded in the $65,000–$65,200 range early in the week, reclaiming ground lost during July’s volatility. Most major cryptocurrencies also finished higher on the week, with Ethereum, BNB, and Solana advancing roughly 3–5%. XRP lagged as a notable exception. Global equities hovered near records, providing a supportive risk-on backdrop for digital assets.
The catalyst for the weekend rebound was Friday’s July nonfarm payrolls report, which showed U.S. employers unexpectedly cut 23,000 jobs against forecasts for a gain of around 80,000. Downward revisions to prior months further softened the labor picture. Markets quickly dialed back the odds of a September rate hike, offering relief to risk assets including Bitcoin.
Institutional Demand Reasserts Itself
Supporting the price recovery, U.S. spot Bitcoin ETFs recorded approximately $853.5–$854 million in net inflows during the week ending around August 7—the strongest weekly haul since mid-April. BlackRock’s iShares Bitcoin Trust (IBIT) dominated the flows, accounting for roughly $693–$694 million, or more than 80% of the total. Combined Bitcoin and Ethereum ETF inflows approached $1.1 billion for the period.
The institutional demand remains one of the clearest bullish signals in an otherwise range-bound, lower-volume market. Consecutive days of inflows helped stabilize Bitcoin near the $65,000 area despite geopolitical noise and technical resistance. Market participants are monitoring whether the pace of inflows accelerates into the next U.S. trading sessions.
Focus Shifts to Wednesday’s Inflation Print
Traders are now focused on Wednesday’s July Consumer Price Index (CPI) release, scheduled for 8:30 a.m. ET on August 12. The data will shape near-term Federal Reserve expectations and could drive crypto volatility. Analysts continue to watch the $65,000–$65,800 zone as a critical resistance area; a convincing break higher could open upside targets toward the mid-$70,000s.
The combination of softer labor data, renewed ETF demand, and a constructive equity backdrop has given Bitcoin a firmer footing heading into the inflation report. Whether the $65,000 level holds—and whether institutional flows continue—will likely determine the next directional move for both Bitcoin and the broader crypto market.
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