The bitcoin treasury firm backed by BTC Inc. CEO David Bailey is officially updating its name to Nakamoto Inc. (Nasdaq: NAKA).
Like many digital asset treasury (DAT) firms, Nakamoto was formed through a corporate merger, in this case with the healthcare operator KindlyMD. According to an announcement on Wednesday, this healthcare business will continue operating through Kindly LLC, a wholly owned Nakamoto subsidiary.
“By rebranding under the name Nakamoto, we are reinforcing Nakamoto’s role as a Bitcoin company built for the future,” Bailey, who also serves as chair and CEO of Nakamoto, said in a statement. “This name change is designed to eliminate ambiguity around our objectives and further our goal to support Bitcoin’s long-term success.”
Nakamoto was one of the most buzzy bitcoin DATs to launch in 2025, alongside other major bitcoin accumulators like Twenty One Capital, backed by Tether and Strike founder Jack Mallers.
Both firms pale in comparison to Michael Saylor’s Strategy, the largest corporate bitcoin holder on record with 709,715 BTC, which is an order of magnitude larger than the next biggest bitcoin treasury, MARA Holdings, with over 53,000 BTC, worth $4.67 billion. 21 Capital is the third-largest corporate bitcoin stacker, with holdings worth about $4 billion.
The second-largest crypto DAT, Bitmine, holds about $12 billion worth of ETH and some bitcoin.
In general, DATs fared poorly in the second half of 2025, due to macroeconomic uncertainty and micro shocks, like the Oct. 10 liquidation event. That said, the cumulative DAT holdings have seen a notable upward bounce since the beginning of the year.
In addition to investing directly in bitcoin, Nakamoto has also backed Japan-based Metaplanet’s global equity offering and an EU-based bitcoin treasury play. Bailey previously said the firm is planning to acquire 5% of bitcoin’s 21 million hard-capped supply.
NAKA dropped over 7% on Wednesday and is trading around $0.39 at publication time, according to CNBC data. The stock recorded its highest-ever daily close of $25.03 on May 27, shortly after Bailey announced the bitcoin accumulation plan.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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