Key Takeaways
Bitcoin treasury company Nakamoto Inc. sold 284 BTC for approximately $20 million in March, locking in a multimillion-dollar loss as it builds a cash reserve amid market pressure.
"We are focused on completing the integration of our acquisitions, driving operating leverage, and scaling our company," CEO David Bailey said in a statement, affirming the company remains "committed to Bitcoin as a long-term strategic asset."
The sale, disclosed in a 10-K filing, was executed at an average price of roughly $70,422 per coin. This is 40% below the company's weighted average purchase price of $118,171 for the 5,342 BTC it acquired in 2025, representing a "buy high, sell low" scenario that crystallized a $13.56 million loss on this lot of coins. The firm had already reported a $166.2 million loss from changes in fair value on its digital assets for the year ended Dec. 31, 2025.
The sale highlights the financial strain on leveraged crypto-exposed companies following Bitcoin's 45-50% correction from its late-2025 peak of over $124,000. With $210 million in loans collateralized by 4,858 BTC, the decline in collateral value likely forced Nakamoto Inc. to liquidate a portion of its holdings to improve liquidity.
Nakamoto's sale contrasts sharply with the strategy of other corporate treasuries. Strategy (formerly MicroStrategy) now holds about 76% of all Bitcoin held by public companies, having purchased 45,000 BTC in the last 30 days, according to CryptoQuant data. In the same period, all other treasury firms combined added just 1,000 BTC, showing a significant concentration of holdings.
The company's stock has reflected the pressure, with shares of NAKA falling 7.16% on Monday to close at $0.21 and are down approximately 40% year-to-date, per Google Finance data. It is important to note that Nakamoto Inc. is a corporate entity and is not affiliated with Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
This article is for informational purposes only and does not constitute investment advice.
