Tuesday, May 13, 2025

Bitcoin Meets Medical Marijuana


Strategy CEO Michael Saylor shared the news of a new publicly traded conglomerate devoted to buying and holding Bitcoin.  It's an odd combination of KindlyMD, which already trades on NASDAQ, and Nakamoto, a bitcoin treasury company.  

KindlyMD operates a handful of clinics in Utah, some as small as 300-500 square feet.  It's latest 10-k showed a highly unprofitable venture (where losses more than doubled in the last year).  


KindlyMD's CEO once worked for the Steward Health System in Utah.  Senator Mitt Romney called Steward "reprehensible" for their mismanagement, which began under private equity underwriter (PEU) ownership (Cerberus, the hellhound).

Kindly has some PEU like arrangements, the mixing of debt and equity by owners and executives.


Anything goes, nowadays and that's why a money losing, medical marijuana clinic is becoming a bitcoin treasury.  

Invest only what you can afford to throw in the trash or watch go up in smoke.