KindlyMD Launches $5B Stock Sale to Expand Bitcoin Holdings

     

Healthcare firm’s shares tumble as equity program fuels treasury pivot

Healthcare services company KindlyMD saw its stock fall sharply Tuesday after unveiling plans for a $5 billion at-the-market equity offering designed to bolster its Bitcoin treasury strategy.

The firm, which recently merged with Nakamoto Holdings, said it will issue and sell up to $5 billion in common stock through the US Securities and Exchange Commission filing. Proceeds will fund Bitcoin purchases alongside working capital, acquisitions, and new investments.

CEO David Bailey, also a crypto policy adviser to the Trump administration, said the move follows KindlyMD’s initial BTC acquisition of 5,744 coins worth $679 million earlier this month. “This initiative represents the natural next step in our growth journey,” Bailey noted.

CEO stresses transparency as investors react

Bailey emphasized that the equity program will be a critical financing tool but acknowledged it may take time to build liquidity. “We want to be world-class in transparency and governance,” he said, promising improvements over the coming year.

Despite this, investors appeared wary. Shares of KindlyMD (NAKA) fell 12% Tuesday, sliding further in after-hours trading. The company’s stock, however, remains up more than 500% year-to-date on the back of its Bitcoin strategy.

Red Light Holland adds Bitcoin exposure through ETF

Separately, Canadian psychedelic truffle producer Red Light Holland disclosed a new Bitcoin strategy, purchasing 10,600 shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT).

The company is also working with a leading exchange to deploy Arch Public’s algorithmic trading strategies. Crypto analyst Scott Melker, who advises the firm, described the approach as “balanced and responsible,” combining ETF exposure with advanced trading tools.