KindlyMD (NASDAQ: NAKA) acquired 5,743.91 BTC through its subsidiary Nakamoto Holdings, marking its first purchase since completing the merger that created its bitcoin treasury vehicle. The transaction raises the company’s total holdings to 5,764.91 BTC.
Nakamoto purchased the bitcoin at a weighted average price of $118,204.88 per coin, for an aggregate cost of approximately $679 million. The purchase was funded using proceeds from a recent private investment round. CEO and Chairman David Bailey stated that NAKA’s long-term mission is “accumulating one million Bitcoin.”
NAKA closed a $200 million convertible note offering on August 15, with proceeds earmarked for additional bitcoin purchases.
Read More: KindlyMD approves Nakamoto merger, secures over $760 Million in PIPE and debt financing
At time of publication, NAKA is up 6% during pre-market hours.
