Two biotech companies have transitioned to becoming Bitcoin treasury companies, following MicroStrategy’s lead. KindlyMD, a cannabis company, has seen its shares surge by 742% this year, valued at $90 million. The company was acquired by Nakamoto Holdings, raising $540 million in gross proceeds through financing to acquire 1 million BTC.

CEO David Bailey envisions the world’s capital markets operating on a Bitcoin standard after the merger. KindlyMD reported a decrease in revenue and a widening of net losses and operational losses. Post-merger, the company’s financial outlook seems bleak, with no solid operational plans. Investors are advised to steer clear of NAKA stock.

Read more at Yahoo Finance: This Cannabis Stock Just Transformed Into a Bitcoin Treasury Play. Should You Buy Shares Now?