Nakamoto Shares Hit New Low After Bitcoin Treasury Firm Sells Off BTC
Nakamoto Holdings (NAKA), a publicly traded Bitcoin treasury firm, sold about $20 million in Bitcoin to improve financial flexibility, but its stock hit a record low following the announcement. In Q4, the company recorded a $142.6 million loss from the declining value of its digital assets and a $10.8 million investment loss tied to Metaplanet. The firm expanded its Bitcoin exposure by acquiring BTC Inc and UTXO Management in February, adding media and capital management services. Despite recent sales, Nakamoto held 5,342 Bitcoin (valued at $359 million) at year-end, but was down around $166 million on Bitcoin holdings; as of Tuesday, it is estimated to be down $275 million with Bitcoin trading at $66,693. The firm’s average cost per Bitcoin was $118,171. Leadership expressed a focus on strengthening operations, scaling revenue, and maintaining a long-term commitment to Bitcoin, while acknowledging ongoing volatility. Nakamoto stock has dropped nearly 80% in the last six months, despite a brief 3.3% rise on Tuesday.
