Bitcoin treasury KindlyMD has secured $200 million through a convertible note offering aimed at increasing its Bitcoin holdings. This financing follows a $540 million private placement in public equity completed during its merger with Nakamoto Holdings. KindlyMD intends to allocate the net proceeds from this offering towards purchasing more Bitcoin, as well as for general corporate expenses. The company, now operating under the KindlyMD name post-merger, continues to position itself alongside other firms exploring Bitcoin investments for better returns. With a total of 168 public companies currently holding Bitcoin treasuries, KindlyMD is part of a trend initiated by companies like MicroStrategy, which began accumulating Bitcoin in 2020. Bitcoin prices recently hovered around $116,605 after experiencing fluctuations following a peak of $124,128 previously. KindlyMD's shares, traded on Nasdaq under the ticker NAKA, fell roughly 12% on the day of the announcement, reflecting market reactions to the company's strategy of integrating Bitcoin into its business model.

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