KindlyMD (NAKA), the publicly traded U.S. healthcare company that merged with Bitcoin (BTC)
treasury firm Nakamoto, has announced plans to adopt a cryptocurrency treasury strategy.
Specifically, KindlyMD says it plans to raise as much as $5 billion U.S. to fund the purchase of Bitcoin and add the crypto to its balance sheet.
The Salt Lake City-based company has filed paperwork with the U.S. Securities and Exchange Commission (SEC) for an at-the-market equity offering program.
The program will allow KindlyMD to sell common stock and raise funds to purchase Bitcoin.
The money raised will also be used for general corporate purposes, such as acquisitions of businesses, assets, and to purchase new technologies.
KindlyMD made its first Bitcoin purchase on Aug. 19 of this year, acquiring 5,743 BTC worth $635.4 million U.S.
The healthcare concern is the latest publicly traded company to adopt a crypto treasury strategy, following in the footsteps of companies such as Strategy (MSTR) and GameStop (GME).
NAKA stock fell 12% on news of its equity raise and Bitcoin treasury strategy. The company’s shares currently trade at $8.07 U.S.
