Publicly listed healthcare companies face delisting crisis; can holding over 5,000 Bitcoins save the situation?

【Chain Wen】A publicly listed healthcare company, KindlyMD (NAKA), has recently run into trouble. Its stock price has fallen below $1 on the NASDAQ for 30 consecutive trading days, and the exchange has warned it about potential delisting.

They now face an urgent deadline—by June 8, 2026, they must bring the stock price back above $1 and maintain it for at least 10 consecutive trading days to turn the situation around. It sounds like there is still time, but looking at their stock performance reveals how severe the situation is: since falling below $1 at the end of October, the price had dropped to $0.38 by mid-December. From the year’s high, the decline exceeds 99%.

Interestingly, this company also holds 5,398 Bitcoins, ranking 19th on the global corporate holdings list. While the market value of these Bitcoins is not insignificant, it seems the market still cannot support their stock price. This also reflects a phenomenon—holding Bitcoin reserves alone is not enough; if the company’s operations are problematic, having more assets won’t easily dispel investor concerns.