PANews reported on May 21 that according to Cointelegraph, shareholders of healthcare service provider KindlyMD approved the merger with Bitcoin holding company Nakamoto Holdings. The latter was founded by Trump's cryptocurrency adviser David Bailey and focuses on building a Bitcoin ecological enterprise network. The merger is expected to be completed 20 days after both parties submit SEC information statements, and the final delivery is scheduled for the third quarter of 2025.

Market reaction showed that KindlyMD (KDLY) stock price rose 9% to $15.22 during regular trading hours on May 20, and rose another 4.8% after the market. The company's cumulative increase this year has reached 979%. According to the merger terms disclosed on May 12, the new entity will develop Bitcoin native businesses through equity, debt and other means, and include Bitcoin in its balance sheet.

Earlier on May 12, it was reported that David Bailey and his company Nakamoto raised US$710 million and merged with KindlyMD to build a Bitcoin vault.