Shares of KDLY surged by an astonishing 650% in pre-market trading following the announcement of a merger with Nakamoto Holdings. The deal, spearheaded by cryptocurrency advisor David Bailey, aims to create a publicly traded Bitcoin-focused holding company. Bailey’s leadership is expected to influence strategy, particularly regarding the company’s Bitcoin treasury investment strategy. This move comes amidst a growing trend of institutional investments in cryptocurrencies. The financial implications are significant, with $710 million raised through PIPE financing and convertible bonds. This funding will likely bolster the company’s Bitcoin holdings. The merger marks a turning point for the industry. Experts believe it could drive future investment activities in Bitcoin and impact its valuation.