The Rise and Fall of Bitcoin Treasury Mania: The KindlyMD Story

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Source: CryptoNewsNet Original Title: Most Influential: David Bailey Original Link: Among other things, 2025 will surely be remembered for the mania and then stunning collapse of hastily formed bitcoin treasury companies attempting to mirror the success of Michael Saylor’s strategy. Perhaps none were higher profile than that of KindlyMD (NAKA), led by David Bailey, formerly the very successful CEO of Bitcoin Magazine and bitcoin-whisperer to Donald Trump’s victorious presidential campaign.

Then a little-known microcap healthcare company, KindlyMD in May announced a merger agreement with Bailey’s Nakamoto Holdings, backed by more than $700 million in financing, to start a bitcoin treasury company. Shares in Kindly (then with the ticker KIND, but soon changed to NAKA) soared from around $2 to more than $30 within days. That was the top.

BTC-1.11%
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