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Nakamoto CEO David Bailey Says Bitcoin’s Corporate Turn Isn’t A ‘Betrayal’ – Eyes Bigger Push Into M&A
David Bailey said Bitcoin’s corporate adoption is a part of its wider growth, as Nakamoto shifts toward M&A and cash-generating businesses.
Anushka Basu·Stocktwits
Published Aug 31, 2026 | 11:53 AM EDT
- During a fireside chat at Bitcoin Asia 2026, David Bailey said corporate Bitcoin adoption is part of the apex cryptocurrency’s wider growth, not a break from its original vision.
- He expects Bitcoin treasury companies to pursue more M&A with operating businesses.
- He added that Nakamoto and some of its portfolio companies are already working on deals that could show results later this year.
Bitcoin’s (BTC) growing presence on corporate balance sheets is not a departure from its original mission (NAKA) Chairman and CEO David Bailey, who also expects mergers and acquisitions to become a bigger part of the Bitcoin treasury company playbook
During a fireside chat at Bitcoin Asia 2026, Bailey pushed back against the idea that corporate involvement represents Bitcoin “selling out.” “Hyperbitcoinization can’t happen without bringing along the corporate world,” Bailey said, adding that companies providing everyday products and services would have to participate for Bitcoin adoption to spread across the wider economy.
Bitcoin’s price has fallen over 10% year-to-date. The apex cryptocurrency has been struggling to regain the $80,000 mark, which it breached last week for the first time since May.
Nakamoto Turns Its Focus To M&A
Bailey said the next phase for Bitcoin treasury companies could involve owning more operating businesses rather than relying only on Bitcoin holdings and financial engineering. “We’re going to see more people acquire and do more [mergers and acquisitions] M&A with operating companies,” he said. “It’s what we’re doing at Nakamoto,” he added.
Bailey added that several of Nakamoto’s portfolio companies were already working on deals and said investors could begin seeing the results of that activity during the second half of the year.
The company wants to build businesses that generate cash because, unlike Bitcoin’s price, their operating performance is something management can control, Bailey added.
In February, the company completed its acquisition of BTC Inc. and UTXO Management, turning both into wholly owned subsidiaries. In exchange, Nakamoto issued about 364.8 million shares of common stock and assumed options. The deal was valued at about $81.6 million, based on Nakamoto’s closing price at the time of the filing.
From Healthcare To Bitcoin
CEO Bailey’s comments come after Nakamoto completed the closure of its legacy healthcare clinics in June. The company said at the time that the move completed its transition into a Bitcoin operating company focused on media and information services, asset management and financial services, and advisory businesses.
Nakamoto, formerly known as KindlyMD, had begun shifting away from healthcare following its 2025 merger with Nakamoto Holdings. Bailey said the company now wants to remain cash-flow positive so it can keep investing even when Bitcoin and broader market conditions weaken.
NAKA stock was down over 2% in midday trade. On Stocktwits, retail sentiment around NAKA remained in the ‘bearish’ zone, accompanied by ‘low’ chatter levels over the past day.
Read also:XMR Outperforms Bitcoin In August, Seeing Its Best Month In Over 5 Years
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Source: stocktwits.com