G’day Bitcoiner,

Here’s the week in Bitcoin treasuries.

🚨 David Bailey & KindlyMD Goes All In: $679M Bitcoin Buy Pushes Treasury to 5,764 BTC

Google Eyes 14% Stake in TeraWulf 🚨

🇭🇰 Hong Kong’s Ming Shing to Buy $483M in Bitcoin

🇯🇵 Metaplanet Adds 775 BTC, Now Holds $2.18B in Bitcoin

🚨 David Bailey & KindlyMD Goes All In: $679M Bitcoin Buy Pushes Treasury to 5,764 BTC

David Bailey doubles down on his Bitcoin empire - KindlyMD, Metaplanet, Smarter Web, Bitcoin Magazine, and beyond

KindlyMD (NASDAQ: NAKA) has officially entered the top tier of corporate Bitcoin treasuries. The company announced the purchase of 5,743.91 BTC through its subsidiary Nakamoto Holdings, bringing total holdings to 5,764.91 BTC - placing KindlyMD among the top 20 public Bitcoin holders worldwide.

The $679M purchase was executed at an average price of $118,204 per BTC, funded via a $540M PIPE raise and a $200M convertible note offering. This is KindlyMD’s first major acquisition since merging with Nakamoto Holdings - and the company says this is just the start.

📈 Bailey’s Expanding Bitcoin Empire

KindlyMD’s dramatic move is the latest chapter in David Bailey’s growing influence on Bitcoin’s corporate, political, media, and cultural landscape. Through Nakamoto Holdings and UTXO Management’s 210k Capital fund, Bailey has financed, advised, or structured some of the most aggressive Bitcoin treasury strategies globally, including:

• KindlyMD / Nakamoto (NASDAQ: NAKA) — Targeting 1M BTC

• Metaplanet (Tokyo: 3350) — Often called “Japan’s MicroStrategy”

• The Smarter Web Company (UK: AQX) — Pivoted to a Bitcoin-first balance sheet

• Strategy (formerly MicroStrategy) (NASDAQ: MSTR) — Strategic alignment via UTXO

• Moon Inc. (Hong Kong: HKEX) — Expanding Bitcoin-backed corporate treasury

• The Blockchain Group (France: ALTBG) — Euronext-listed BTC treasury

• Liquid Technologies (Canada: LQWD) — Lightning-focused Bitcoin balance sheet

• H100 (Sweden: Nasdaq Growth Market) — Nordic corporate BTC adoption

• Matador (Canada: TSX Venture) — Institutional BTC allocation

• DV8 (Thailand: SET) — Southeast Asia’s emerging Bitcoin treasury

Bailey’s playbook is simple but bold:

KindlyMD now sits at the centre of this growing network of Bailey- and UTXO-backed treasuries, reshaping how corporations deploy capital globally.

🏛️ Bailey the Power Broker: Media, Politics & Bitcoin Culture

David Bailey’s influence extends far beyond corporate balance sheets:

• CEO & Co-owner of Bitcoin Magazine - Bailey acquired and rebuilt Bitcoin Magazine into the world’s most influential Bitcoin media platform, shaping the narrative around adoption, policy, and corporate strategy.

• Bitcoin Conference Organiser - Co-founder of the Bitcoin Conference, the largest Bitcoin event globally.

• Crypto Advisor to Donald Trump - Bailey advised the Trump campaign on Bitcoin strategy and U.S. crypto policy, positioning him as a key political power broker in shaping America’s regulatory future.

• UTXO Management Co-founder - As a General Partner at UTXO and head of the 210k Capital fund, Bailey backs and advises 10+ Bitcoin treasury companies worldwide, driving corporate BTC adoption at scale.

Bailey’s reach spans media, policy, capital markets, and corporate finance - making him one of the most influential figures in Bitcoin today.

💡 Strategic Vision: 1 Million BTC or Bust

Under Bailey’s leadership, KindlyMD has set a long-term goal of acquiring 1,000,000 BTC - around 5% of Bitcoin’s fixed supply.

As macroeconomic pressures drive corporations toward hard money reserves, Bailey is positioning KindlyMD - and his wider treasury network - to anchor the next era of institutional finance.

📉 Market Reacts: Volatility Meets Opportunity

Following the announcement, NAKA shares fell 14.6%, closing at $10.26 as markets absorbed the scale of the $679M Bitcoin buy. But while the stock dipped, Bailey and his backers are leaning in — positioning KindlyMD as an institutional Bitcoin treasury powerhouse for the next decade.

The Bottom Line

KindlyMD’s $679M Bitcoin acquisition cements its place in the Bailey-led Bitcoin ecosystem - an interconnected network spanning treasury companies, financial strategies, policy influence, and global media.

With Metaplanet, Smarter Web Company, Strategy, Bitcoin Magazine, and a growing portfolio of UTXO-backed treasuries, David Bailey is orchestrating a coordinated Bitcoin balance sheet revolution - while shaping the cultural and political narratives that accelerate adoption.

Short ₿its 🌟

Google Eyes 14% Stake in TeraWulf 🚨

Google could become the largest shareholder in Bitcoin miner TeraWulf ($WULF) after securing warrants to acquire 32.5M shares in a $3.2B data center financing deal. The partnership reflects a growing convergence between Bitcoin mining and AI infrastructure, as TeraWulf expands its high-performance computing capacity while maintaining its BTC operations.

🇯🇵 Metaplanet Adds 775 BTC, Now Holds $2.18B in Bitcoin
Tokyo-listed Metaplanet has boosted its reserves to 18,888 BTC after its latest $93M buy, solidifying its status as Asia’s largest corporate Bitcoin holder.

🇭🇰 Hong Kong’s Ming Shing to Buy $483M in Bitcoin
Hong Kong-listed Ming Shing Group plans to acquire 4,250 BTC for $483M at an average price of $113,638 per BTC, funded via convertible notes and warrants. The bold move cements Ming Shing’s entry into the corporate Bitcoin treasury race as Asia’s adoption wave accelerates.

🚀 DDC BTC Accelerates Bitcoin Buying Spree

DDC BTC ($DDC) scoops up 100 BTC in its third purchase in 8 days, boosting total holdings to 688 BTC. The company is rapidly advancing toward its 10,000 BTC target by year-end 2025.

🇬🇧 Smarter Web Taps Jesse Myers to Lead Bitcoin Strategy

London-listed Smarter Web Company has appointed Bitcoin analyst Jesse Myers - whose valuation model inspired Michael Saylor’s Bitcoin 24 framework - to spearhead its treasury strategy. With 2,000 BTC already on its balance sheet and rapid growth underway, Smarter Web is positioning itself as the UK’s answer to Metaplanet and Strategy with a bold Bitcoin reserve policy.

H100 Group Boosts Bitcoin Treasury to 911 BTC

Sweden’s H100 Group added 102 BTC at an average price of $120,542, bringing its total holdings to 911 BTC. Backed by Blockstream CEO Adam Back, the company is doubling down on Bitcoin as part of its aggressive treasury strategy.

Tweet of The Week

Podcast of The Week

🎙️ Preston Pysh Breaks Down Bitcoin Treasury Mechanics

Preston Pysh delivers a masterclass on Bitcoin treasury companies, unpacking Michael Saylor’s playbook and why it has outperformed Bitcoin since 2020. He dives into convertible debt, preferred stock, NAV premiums, and dilution risks - while warning of nationalisation threats and stressing that self-custody Bitcoin remains the ultimate safeguard.

If you have questions about how Bitcoin could help you or your business, please don’t hesitate to reach out for a free 30-minute consultation 🕒. We're here to help you navigate the future of Bitcoin 💡

Thanks for reading! We hope you’ve enjoyed this week’s edition and look forward to seeing you next week! 👋

Daniel 

for Bitcoin on Balance

32 York Street, Sydney NSW 2000, Australia

https://www.bitcoinonbalance.com/