Nakamoto Holdings, a bitcoin investment firm led by David Bailey, has sold approximately 284 BTC for $20 million, marking a significant reduction in its holdings. This sale, which occurred in March, represents about 5% of the company’s total bitcoin assets and was executed at an average price of $70,422 per bitcoin.
The decision to offload part of its bitcoin holdings comes as Nakamoto pivots to a treasury strategy focused on bitcoin. The proceeds from the sale are intended to bolster working capital and support operations following the company’s recent acquisitions of BTC Inc. and UTXO, both of which are integral to its transition into a bitcoin-centric platform.
Nakamoto went public in May 2025 through a merger with KindlyMD, a healthcare provider, raising $710 million to facilitate its treasury strategy. However, the firm has faced increasing liquidity pressures, exacerbated by a secured loan of $210 million in USDT from Kraken, which is backed by a significant portion of its bitcoin holdings. This situation has constrained its financial flexibility and may necessitate further asset sales to cover interest payments.
In its recent 10-K filing, Nakamoto reported a pre-tax loss of $52.2 million for the year ending December 31, 2025, a substantial increase from a loss of $3.6 million the previous year. This decline in profitability was largely attributed to a $166.1 million drop in the value of its digital assets, following a downturn in bitcoin prices in late 2025.
The company’s stock has experienced a dramatic decline, falling approximately 99% from its all-time high recorded in May 2025. This downturn raises concerns about the sustainability of its business model as it navigates a challenging financial landscape.
Nakamoto Holdings has sold 284 BTC for $20 million, reflecting financial pressures amid a strategic pivot to a bitcoin treasury approach. The company's stock has plummeted 99% since May 2025, raising concerns about its future viability.
Source: CoinDesk