KindlyMD Files for $5 Billion ATM Program to Support Bitcoin Strategy

KindlyMD Inc. has filed a Form S-3 automatic shelf registration for an at-the-market equity offering program worth up to $5 billion. The company plans to utilize these funds for general corporate purposes, including its Bitcoin Treasury Strategy following the merger with Nakamoto Holdings.

Key points include:

The CEO emphasized this move as a continuation after acquiring 5,744 Bitcoin earlier this month.
The ATM Program aims to enhance the balance sheet and capitalize on market opportunities.
Currently, KindlyMD holds nearly 5,765 BTC and has previously raised $500 million through private placements.
If fully executed, the program could make KindlyMD one of the largest institutional Bitcoin holders globally.

Corporate Bitcoin Holdings Expand

Corporate investments in Bitcoin are growing, with 174 publicly listed companies holding a total of 988,913 BTC. Michael Saylor's firm remains the largest holder with 632,457 BTC.

Japanese firm Metaplanet plans to raise approximately $1.2 billion, allocating about $835 million for Bitcoin purchases to hedge against yen depreciation and inflation risks.

Analysts caution that increased share issuance for Bitcoin purchases may dilute existing shareholder value, especially if stock prices fall. Currently, Bitcoin is trading around $111,200, reflecting a decline of over 6% in the past month.