KindlyMD stocks fell sharply after announcing a stock offering worth 5 billion dollars to buy Bitcoin

KindlyMD shares fell sharply by 12% on Tuesday after the healthcare company announced plans for a 5 billion USD stock issuance to expand Bitcoin accumulation.

KindlyMD, which has just merged with Nakamoto Holdings, announced that the raised capital will be used for general purposes such as purchasing more BTC, working capital, M&A, and project investments. CEO David Bailey, who is also a cryptocurrency policy advisor to the Trump administration, called this the next step in the growth strategy after the company purchased 5,744 BTC worth 679 million USD on August 19. Bailey emphasized that stock issuance is a key tool to implement the Bitcoin strategy, while also committing to enhance transparency and governance. Despite falling after the issuance news, NAKA stock has still increased by 550% since the beginning of the year. Meanwhile, Red Light Holland (Canada) announced the purchase of Bitcoin ETF shares from BlackRock and is implementing an algorithmic trading strategy.

KindlyMD shares fell sharply after the issuance of $5 billion worth of stock to buy Bitcoin

LA-0.45%
BTC-0.82%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)