Nakamoto Holdings Rakes in $51.5 Million for Publicly Traded Bitcoin Treasury
Nakamoto Holdings, founded by David Bailey, has raised $51.5 million to build a Bitcoin treasury through a private-investment-in-public-equity deal with KindlyMD. The funds will primarily be used to acquire Bitcoin, increasing Nakamoto's earmarked total for its treasury to $763 million. Bailey emphasized the strategy of acquiring Bitcoin for both Nakamoto and future portfolio companies, aiming to enhance exposure to global capital markets. Bitcoin's current trading price is $102,942, down 1.8% in the last 24 hours. Over 130 public companies have added significant Bitcoin holdings, a trend initiated by Michael Saylor's firm, which holds over 592,000 Bitcoin valued at more than $60 billion. The number of entities holding Bitcoin has increased by approximately 14% in the past month. Concerns exist regarding the risks for companies heavily reliant on Bitcoin's price stability.
