KindlyMD raises approximately 7.5 billion yen for Bitcoin financial strategy | CoinDesk JAPAN

• Healthcare data company KindlyMD has raised an additional $51.5 million for Bitcoin purchases, bringing the company’s total funding to $763 million.
• KindlyMD, which promotes Bitcoin financial strategies, is about to merge with Nakamoto Holdings.
• KindlyMD’s stock price fell by 7% shortly after the trading began on June 20.

On June 20, KindlyMD, a healthcare data company based in Salt Lake City, Utah, announced that Nakamoto, which specializes in holding Bitcoin and is about to merge with the company, has raised an additional $51.5 million (approximately 7.5 billion yen, based on an exchange rate of 1 dollar = 145 yen) as funds for purchasing Bitcoin (BTC).

In this PIPE (private investment in public equity), the common stock of KindlyMD was priced at $5 per share. According to David Bailey, the founder and CEO of Nakamoto, this fundraising round was fully subscribed in less than three days.

“We will continue to execute our strategy of raising as much capital as possible and acquiring as many Bitcoins as possible,” Mr. Bailey stated in a statement.

The total amount of funds raised by KindlyMD has reached approximately $763 million, including past PIPE and convertible bond issuances.

KindlyMD’s stock price fell by about 7% in the morning trading on June 20. The Nasdaq Composite Index is nearly unchanged.

This move comes amid an accelerating trend where publicly traded companies are expanding their fundraising efforts to build financial strategies for cryptocurrencies, following the long-term strategy of software company Strategy, which has been purchasing Bitcoin through bond issuance and stock sales.

According to data from BitcoinTreasuries.net, the strategy company is the largest holder of Bitcoin, holding 592,100 BTC valued at $62 billion.

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