Nakamoto Holdings, led by David Bailey, has merged with KindlyMD to establish a Bitcoin treasury network and integrate Bitcoin into global financial markets.
The $710 million merger deal includes a $510 million private placement and a $200 million sale of senior secured convertible notes to support Bitcoin-backed assets.
Bailey aims to list Bitcoin-based financial products on major exchanges and predicts increased integration of traditional finance with Bitcoin in the future.
Nakamoto Holdings also partnered with BTC Inc. to advance the Bitcoin-based structure of the new entity, as 70 companies, including Cantor Fitzgerald and SoftBank, have adopted Bitcoin as a core asset.