KindlyMD: A Bitcoin Bubble Bursts đŸ’„

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KindlyMD Inc., a curious entity that once dabbled in healthcare before succumbing to the siren song of Bitcoin, experienced a rather dramatic deflation on Monday. Its shares, once fluttering like brightly colored moths, were abruptly halved, a spectacle initiated by a warning from its CEO, David Bailey. He suggested, with the subtle tact of a taxidermist, that those merely seeking a fleeting profit might wish to
 vanish. A most uncharming eviction notice, wouldn’t you agree?

“We expect share price volatility may increase for a period of time,” Bailey intoned in a missive to shareholders, a document seemingly penned whilst anticipating the inevitable. This pronouncement conveniently coincided with the firm’s recent filing regarding a $200 million share sale, offered at a discount to discerning (or perhaps simply eager) private investors.

“For those shareholders who have come looking for a trade, I encourage you to exit.”

A polite suggestion, one might say, if one were feeling generous. The offering, a rather quaint affair known as a PIPE (Private Investment in Public Equity), was essentially a method of injecting capital at a reduced rate. And now, those shares, predictably, were unleashed upon the market. A financial feeding frenzy, if you will.🧐

Analysts, those brave souls who attempt to decipher the arcane language of the market, have expressed a certain
 disquietude regarding these “crypto treasury companies.” They’ve noted, with a touch of weary resignation, that the value of the cryptocurrency held by many of these firms is beginning to eclipse their actual market capitalization. A rather precarious situation, wouldn’t you say?

KindlyMD stock drops 55% after shareholder letter

Investors, evidently taking Mr. Bailey’s advice (or perhaps simply recognizing the aroma of impending doom), stampeded for the exits. Shares in KindlyMD (NAKA) concluded Monday’s trading session with a catastrophic loss of 55.4%, landing at a paltry $1.24. It’s almost comical, really.

There was a fleeting, almost pathetic, bump after the bell – a 4.8% gain. A desperate attempt at resuscitation, perhaps?

This represents the lowest KindlyMD’s share price has been since the quaint days of early February, a time before the company embarked on its Bitcoin-fueled odyssey and merged with Mr. Bailey’s holding company, Nakamoto Holdings. One shudders to think what the oracle of Delphi might have predicted.

Bailey says PIPE deal will flush non-aligned investors

Mr. Bailey, in his letter, declared that while the influx of PIPE shares would undoubtedly amplify volatility, he viewed it as a “critical opportunity” to cultivate a base of “aligned shareholders” – those devoted devotees committed to the long-term vision. A delightful euphemism for purging the troublesome short-termers, wouldn’t you agree?😇

“This transition may represent a point of uncertainty for investors,” he added, with the practiced stoicism of a seasoned gambler, “and we look forward to emerging on the other side with alignment and conviction amongst our backers.”

On X (formerly known as Twitter, a digital bazaar of opinions), Bailey noted “intense volume” but framed it as a “day of transition” – a grand “upgrading” of the shareholder base. From fleeting speculators to steadfast believers. How
 idealistic.

“Almost 80m [million] shares have traded today,” he chirped. “Once again I’m humbled by the support and look forward to meeting all our new shareholders!” One suspects a touch of irony might be lost on the digital ether.

KindlyMD value falls below Bitcoin holdings

The precipitous drop in KindlyMD’s share price has resulted in its multiple of net asset value (mNAV) plummeting to a mere 0.7. The company’s market value has now fallen below the actual value of its Bitcoin holdings. A peculiar state of affairs, wouldn’t you say? It’s rather like owning a priceless jewel and then deciding the cardboard box it’s in is more valuable.

The firm currently holds 5,765 BTC, valued at over $665 million, while its market capitalization languishes at a meager $466 million, according to BitcoinTreasuries.NET. A statistical peculiarity, perhaps? đŸ€”

Undeterred, Bailey reiterated KindlyMD’s mission to become “the leading Bitcoin-native financial institution,” a lofty ambition requiring, in his words, “a long-term strategy, creative thinking, and disciplined yet nimble execution.” One can only hope they’ve accounted for the inherent unpredictability of both Bitcoin and the market it inhabits. A truly curious saga unfolds.

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2025-09-16 05:27