Kindly MD, Inc. ( KDLY ) shares are trading higher Monday after the company announced a merger agreement with Nakamoto Holdings to establish a Bitcoin (CRYPTO: BTC) treasury.

The Details: The transaction includes $510 million in Private Investment In Public Equity (PIPE) funding and $200 million in convertible notes in order to launch the treasury.

The combined company will aim both to accumulate Bitcoin and grow the Bitcoin owned on a per share basis, or Bitcoin Yield, through a variety of equity, debt and other offerings. 

This deal represents the first part of Nakamoto’s goal to create an ecosystem of Bitcoin-native companies that exist to accelerate Bitcoin adoption and utility.

“Traditional finance and Bitcoin-native markets are converging. The securitization of Bitcoin will redraw the world’s economic map. We believe a future is coming where every balance sheet – public or private – holds Bitcoin. Nakamoto seeks to be the first publicly traded conglomerate designed to accelerate that,” said David Bailey, Founder and CEO of Nakamoto.

Kindly MD is trading on unusually high volume today, with 53.28 million shares exchanged. The company's 100-day average is 4.70 million shares, according to Benzinga Pro.

Related Link: Trump Announces ‘Total Reset’ as US-China Trade Talks Aim to End Tariff War

KDLY Price Action: At the time of writing, Kindly MD stock is trading 341.8% higher at $17.23, according to data from Benzinga Pro.

Image: via Shutterstock