Healthcare Revenue vs. Crypto Losses: Why NAKA Investors Shift Focus Away from Bitcoin Reserves
5/25/2026, 10:38 AM • Богдан Семичев

The management of the cryptocurrency corporation Nakamoto Inc. has issued official clarifications regarding the highly unusual structure of its administrative staff. The emergence of an official Chief Medical Officer position within a company specializing in digital Bitcoin treasury management sparked a wave of irony across the expert community and triggered numerous internet memes. Against this backdrop, financial analysts and skeptics rushed to accuse the management of inefficient corporate reserve spending and artificial overstaffing.
The organization's CEO, David Bailey, was quick to dismiss the negative speculation, attributing this human resources anomaly to the legal nuances of a past reverse merger procedure. Historically, the brand developed on the stock market under the Utah-based KindlyMD label, providing services to patients with chronic pain syndromes and successfully listing on the Nasdaq exchange prior to combining with Bailey's private holding. The original founder of the medical service, Tim Pickett, retained his seat as CMO to maintain operational control over the clinics, which currently generate the bulk of the holding's regular revenue. It is precisely this functioning healthcare wing that allows the IT company to avoid the hazardous "shell company" status and fully comply with strict US exchange regulations.
Nevertheless, market tension surrounding the company is fueled by dismal financial results, including a net loss of 238 million dollars for the first quarter of 2026. The situation was severely aggravated by the acquisition of related structures from its own top executives, which led to an immediate dilution of retail investors' stakes by more than half in just three months. To urgently rescue the listing from a potential delisting, shareholders approved a 1-for-40 reverse stock split, which technically boosted the per-share price from sixteen cents to around six dollars. The next two quarters will be defining for the business, as the upcoming August expiration of the insider lock-up period and the release of the fresh quarterly report will reveal whether operational profits can offset the incurred cash overpayments, leaving their impressive balance of 5,058 Bitcoins on the back burner.
