David Bailey and his company Nakamoto raise $710 million and merge with KindlyMD to establish a Bitcoin vault David Bailey and his Bitcoin native holding company Nakamoto have officially announced their merger with healthcare provider KindlyMD (NASDAQ: KDLY), and will establish a publicly traded Bitcoin Treasury through the merger. According to an official press release, this transaction raised a total of $710 million, including $510 million in PIPE financing and $200 million in convertible bonds, making it the largest publicly traded cryptocurrency PIPE financing to date. David Bailey will serve as the CEO of the merged company and plans to build a global ecosystem centered around Bitcoin, covering media, finance, and advisory services. The company will accumulate Bitcoin through financial instruments such as equity and debt, and increase its Bitcoin yield per share. KindlyMD's medical business will continue to be retained, and its stock will still be traded on NASDAQ.