Join Our Telegram channel to stay up to date on breaking news coverageShares in the healthcare-turned-Bitcoin treasury company KindlyMD plummeted over 55% after CEO David Bailey urged short-term traders to sell if they are only looking for quick profits. “For those shareholders who have come looking for a trade, I encourage you to exit,” Bailey wrote in a letter to shareholders. KindlyMD is currently ranked as the 16th-largest corporate holder of Bitcoin globally, with 5,765 BTC on its balance sheet, data from Bitcoin Treasuries shows. Overview of KindlyMD’s BTC holdings (Source: Bitcoin Treasuries)In recent weeks, the Bitcoin treasury space has come under pressure as premiums for these companies continue to compress. “We believe in Bitcoin’s long-term strength as the global reserve asset, and we believe that its growth trajectory through public markets is inevitable for global adoption,” he added.