A bronze statue of Satoshi Nakamoto (Attila Kisbenedek/Getty Images)

Bitcoin treasury company Nakamoto finally completes merger with KindlyMD

Bitcoin has had a busy week, breaking a new all-time high.

8/15/25 9:08AM

It’s been quite the week for bitcoin, which smashed another record and then crossed $124,000 on Thursday. The asset retreated not long after, however, and is trading around $118,000 Friday morning.

It’s also been a great week for Trump adviser David Bailey, whose bitcoin investment company, Nakamoto Holdings, a new bitcoin-native venture, finally merged with healthcare company KindlyMD late Thursday after a multiday delay. Shares were up over 2% in early trading Friday.

The new entity will keep the KindlyMD name, while Nakamoto becomes a wholly owned subsidiary of KindlyMD that “will operate the bitcoin financial services line of business under the Nakamoto brand.”

In a press release, Bailey said, “Our vision is for the world’s capital markets to operate on a bitcoin standard. Today’s merger represents the beginning of that journey for our company. The merger sets the stage for the next chapter of growth, and we look forward to driving value for our shareholders and advancing Bitcoin adoption globally.”

KindlyMD holds 21 bitcoin, but the merged entity said it would use the $540 million of gross proceeds from the private placement in public equity to acquire more bitcoin. Wasting no time, Nakamoto launched a merch line with some “epic gear,” mimicking Strategy’s move.

In other bitcoin news:

Speaking of Strategy, it has officially and legally changed its name from MicroStrategy. The largest corporate bitcoin holder, with 628,946 bitcoin, rebranded in February.
French semiconductor company Sequans Communications announced “a bold plan to acquire 100K BTC” by 2030. The company launched its bitcoin treasury strategy on July 8 and currently holds 3,171 bitcoin.
Treasury Secretary Scott Bessent seemed to walk back comments he made about the bitcoin national strategic reserve after saying on Fox News that the US wouldn’t buy bitcoin for the reserve, which would be funded with “confiscated assets.” The comments sparked a lot of discontent, and Bessent later said on X, “Treasury is committed to exploring budget-neutral pathways to acquire more bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘bitcoin superpower of the world.’”

Sage D. Young

11/18/25

Fidelity and Canary Capital roll out spot solana ETFs, joining Bitwise, Grayscale, and VanEck

The price of solana is trading around $140, more than 50% away from its all-time high set in January.

watercolor drawing of Coliseum in Rome. Hand drawn Italian sightseeing

$1T

Yaël Bizouati-Kennedy11/18/25

Painvember is real — the crypto market has lost more than $1 trillion in overall market cap since early October and now sits at $3.2 trillion, down from $4.3 trillion on October 6, when bitcoin hit its all-time high.

Bitcoin dipped below $90,000 for the first time since April late Monday night. The asset is roughly flat from one year ago, shortly after the US presidential election.

“The longer bitcoin stays under $100k, the more the sense of imminent doom intensifies. But amid all this panic, there are reasons to be optimistic. We’ve seen BTC ETF ownership jump from 20% to 28% this year, institutional demand remains high, and the biggest Bitcoin whale — Michael Saylor — has just scooped up more BTC,” Nic Puckrin, cofounder of Coin Bureau, told Sherwood News.

The Bitcoin Fear and Greed Index is now at 11, reflecting “extreme fear.”
Bitcoin ETFs saw $254.51 million in outflows on Monday, bringing total outflows to $2.59 billion in November. BlackRock’s iShares Bitcoin Trust, the most successful bitcoin ETF, saw a whopping $1.26 billion exit its fund so far this month.
Meanwhile, ethereum ETFs suffered $182.8 million in outflows — $1.42 billion so far this month, according to SoSoValue.
Crypto liquidations reached $801 million in the past 24 hours, Coinglass data shows. Bitcoin suffered $433 million in liquidations, with the bulk of them — $390.89 million — in long positions.

“Bitcoin and crypto are trading much more like classic risk assets right now. Everything is moving with broader risk sentiment and growing anxiety around credit,” Greg Magadini, director of derivatives at Amberdata, told Sherwood.

Sage D. Young

11/17/25

Ethereum ETFs in US on track for highest monthly outflow, while nascent solana ETFs only have inflows

Despite the outflows for ethereum and inflows for solana, both cryptocurrencies are down in November.