David Bailey and KindlyMD merge to form Bitcoin Treasury, setting a new record for crypto PIPE financing

According to an official announcement, Bitcoin advocate David Bailey and his Bitcoin native holding company Nakamoto have reached a merger agreement with Nasdaq-listed medical service provider KindlyMD (NASDAQ: KDLY). The merger marks the establishment of the world's first public market Bitcoin Treasury and sets a new record for PIPE financing (private investment in public enterprises) in the crypto industry by raising $710 million in funds.This round of financing includes $510 million in PIPE (Private Investment in Public Equity) investment and $200 million in convertible bonds, which is the largest crypto PIPE transaction to date. This financing has attracted participation from more than 200 institutions in six continents around the world, and well-known investors include Actai Ventures, Arrington Capital, Van Eck, etc. At the same time, heavyweights in the Bitcoin field, such as Blockstream CEO Adam Back, Bitmain co-founder Jihan Wu, and technical thinker Balaji Srinivasan, also participated. The convertible bond portion was fully subscribed by Yorkville Advisors' fund YA II PN, Ltd.David Bailey will serve as the CEO of the merged company. In the announcement, he emphasized that the new company will build a global ecosystem around Bitcoin, integrating media, financial services and strategic consulting capabilities, and strategically deploy Bitcoin as the core asset. The company will use equity, debt and other financial instruments to continuously accumulate Bitcoin assets, and use "Bitcoin Yield per share" as the core growth indicator, intending to create a Bitcoin-based investment platform in the public market.It is worth noting that KindlyMD's original medical services business will continue to be retained after the merger, and the company's shares will continue to be traded on the Nasdaq market. This arrangement shows that while Bailey is promoting the financialization of Bitcoin, he still retains the compliance and operational foundation of the original business, providing a solid platform for the development of future Bitcoin financial products.This transaction not only highlights the increasingly important position of Bitcoin assets in the global capital market, but also shows that traditional enterprises and digital assets are accelerating their integration. According to previous news, David Bailey also plans to launch a Bitcoin investment fund in the near future, with a target fundraising amount of US$300 million, and plans to promote Bitcoin to be more deeply integrated into the mainstream financial structure.As an advisor who has provided crypto policy advice to the Trump team, Bailey's series of actions show that he wants to play a key role in the next stage of crypto politics and financial games. Whether the company's Bitcoin treasury model can be emulated by more listed companies in the future may become one of the important indicators for observing the path of Bitcoin capitalization.