Shares of Nakamoto Inc. fell sharply on Wednesday after the company confirmed a full rebrand and a Bitcoin-only treasury strategy. The stock dropped nearly 10% intraday and traded near $0.39, down over 7% at publication, according to CNBC market data.
This move followed a public announcement that the former KindlyMD would now operate as Nakamoto Inc. under the ticker NAKA. Management said the shift aims to show a long-term commitment to holding digital assets, centered on Bitcoin reserves.
The name change marked a clear break from the company’s healthcare origins and aligned its identity with digital asset accumulation. Nakamoto confirmed that medical services would continue through Kindly LLC, a wholly owned subsidiary, with no sale or closure planned. As a result, its healthcare business remains operational while the parent company pursues cryptocurrency investments.
During mid-session trading, losses deepened beyond 7% and nearly reached double digits at one point. Traders sold shares as uncertainty grew around the company’s ability to manage both its legacy operations and a Bitcoin-focused strategy. At the same time, questions surfaced about timing, financing methods, and potential returns tied to the rebrand.
The stock now trades far below its previous high of $25 reached in May during earlier enthusiasm for digital asset accumulation. Recent quarterly data showed a $0.42 decline and revenue below forecasts, which added pressure to the share price. These figures shaped a cautious market response following the announcement.
Chief Executive Officer David Bailey said the new name removes confusion about the company’s direction. He stated that Nakamoto reflects an explicit commitment to Bitcoin as both the foundation and long-term objective. Bailey also serves as chair and CEO of the company.
The firm emerged through a corporate merger with KindlyMD, a structure common among digital asset treasury firms. Under this arrangement, the healthcare unit continues independently while the parent focuses on cryptocurrency reserves. The company confirmed that Kindly LLC remains wholly owned by Nakamoto Inc.
Nakamoto gained attention in 2025 as one of the most active new Bitcoin treasury firms. It joined a group that includes Twenty One Capital, backed by Tether and Strike founder Jack Mallers. Despite this attention, the company remains smaller than established players.
The largest corporate Bitcoin holder remains Strategy, led by Michael Saylor, with 709,715 BTC, a figure that exceeds the next largest treasury by a wide margin. MARA Holdings holds over 53,000 BTC valued at about $4.67 billion.
Twenty One Capital ranks third with holdings near $4 billion in Bitcoin value. Meanwhile, Bitmine ranks second overall among crypto treasuries. Bitmine holds roughly $12 billion worth of Ether and some Bitcoin.
Analysts continue to monitor how Nakamoto manages Bitcoin price swings while funding operations and reserve growth. The current target analyst price stands near $1.25. Can a healthcare-born company sustain a Bitcoin-only treasury strategy amid revenue pressure and market skepticism?
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Nakamoto shares fell after the company rebranded from KindlyMD and shifted fully to a Bitcoin treasury strategy. The move raised investor concerns about execution funding and revenue pressure. Market reaction shows continued caution toward companies blending traditional operations with digital asset reserves.