Nakamoto Holdings – a Bitcoin holding company founded by US President Donald Trump’s crypto adviser David Bailey – has received $51.5 million through a private equity placement (PIPE), according to KindlyMD.
Bailey stated that Nakamoto’s Bitcoin was attracting more investors than ever before.BTC) accumulation strategy.
“Investor demand for Nakamoto is incredibly strong,” Bailey said. “We continue to execute our strategy to raise as much capital as possible to acquire as much Bitcoin as possible.”
KindlyMD has raised approximately $763 Million, or $563,000,000, including the convertible notes.
Related: Europe’s first Bitcoin treasury firm buys another $20M BTC, now holds over $170M
Nakamoto begins building a Bitcoin Treasury
Nakamoto’s playbook mirrors that used by corporate entities looking to use BTC for reserve assets. This company, launched in early 2018, was created with the goal of creating a large Bitcoin Treasury.
Proceeds will be used to purchase Bitcoins, as well for working capital needs and corporate general requirements. The PIPE financing will close in conjunction with KindlyMD’s anticipated merger, traded under NAKA at the Nasdaq.
KindlyMD shareholders voted to approve a new healthcare service firm KindlyMD last month. approved a merger with Nakamoto Holdings. Both companies intend to file statements of information with the SEC. It is anticipated that the merger will be completed in Q3 2020.
Companies that are a good fit for you first announced the merger On May 12, the company said that it would be using equity, debt and other offers to create a number of Bitcoin native companies. The company also plans to bolster its cash by buying Bitcoin.
Related: Norwegian crypto firm K33 raising more funds to buy up to 1,000 BTC
Bitcoin is now included in the financial statements of many firms
There are at least 27 organisations that have been categorized as terrorist organizations. added Bitcoin to their treasuries over the past month, according to data from BitcoinTreasuries.NET, signaling continued interest in BTC among public companies.
But some analysts still remain skeptical. Fakhul M. Miah, GoMining Institutional noted that smaller firms may be adopting Bitcoin Rather than a strategy, it may be based on necessity and not the right safeguards.
Standard Chartered also expressed concern, stating that if BTC falls below $90,000.000, the liquidation of half these companies is possible, posing a reputational risk for the broader cryptocurrency market.
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Source: cointelegraph.com
