Nasdaq-Listed Nakamoto Liquidates $20M in Bitcoin to Fund Strategic Initiatives

Nakamoto Inc., a Nasdaq-listed Bitcoin treasury firm, has reduced its crypto holdings after selling approximately 284 Bitcoin in March for about $20 million, according to its latest 10-K filing.

The move highlights a strategic shift toward strengthening short-term liquidity as the company faces mounting financial pressure.

Key Points

• Nasdaq-listed firm reported a $166.2 million loss on its Bitcoin holdings in 2025 due to a decline in market value.
• The net loss surged to $52.2 million in 2025, up from $3.6 million in 2024.
• Nakamoto plans to exit its legacy healthcare business to focus on Bitcoin operations.
• The company is expanding through acquisitions (BTC Inc. and UTXO Management) while emphasizing integration and disciplined capital management.

Strategic Sale to Build Cash Reserves

According to the filing, the Bitcoin was sold at an average price of around $70,422 per coin. The proceeds will be allocated to a US dollar reserve intended to stabilize near-term operations.

This reserve is expected to support immediate funding needs, including strategic initiatives, integration efforts, and routine business expenses. In this context, the sale reflects a broader effort to improve financial flexibility while maintaining ongoing operations.

Bitcoin Strategy Faces Valuation Losses

While the company continues to rely on Bitcoin as a core asset, its strategy has faced recent setbacks. Nakamoto launched its Bitcoin-focused operations after completing a merger on August 14, 2025. By the end of that year, it held 5,342 BTC, valued at approximately $467.5 million.

However, shifting market conditions weighed heavily on these holdings. The company reported a $166.2 million loss due to changes in the fair value of its digital assets. This decline followed a drop in Bitcoin prices from an average purchase level of $118,171 to $87,519 at year-end.

In addition to these unrealized losses, Nakamoto recorded a further $9.9 million loss on its investment activities, adding to the overall financial strain.

Rising Net Loss and Operational Refocus

As a result, the company’s financial performance has deteriorated. Nakamoto reported a net loss of $52.2 million in 2025, a sharp increase from $3.6 million in 2024.

Amid these challenges, the firm is also reshaping its business priorities. It plans to exit its legacy healthcare segment, which generated $1.8 million in revenue in 2025, down from $2.7 million in 2024. This move indicates a clearer focus on its core Bitcoin-related operations.

Expansion Through Acquisitions and Integration

Simultaneously, Nakamoto is pursuing growth through targeted acquisitions. It recently acquired BTC Inc., a crypto media and events company, and UTXO Management, an investment firm specializing in Bitcoin-related businesses.

Following these acquisitions, Chief Executive Officer David Bailey emphasized the importance of integration and efficiency. He stated that the company is working to scale its products and services while maintaining disciplined capital management.

Bailey also reaffirmed Nakamoto’s long-term commitment to Bitcoin and noted that the firm will continue evaluating high-conviction merger and acquisition opportunities.

Market Reaction

Against this backdrop, market sentiment has remained cautious. Nakamoto’s shares fell 7.16% to close at $0.21 on Monday, based on Google Finance data, before recovering about 6% in after-hours trading.

Even with this brief rebound, the company’s stock has declined roughly 80% over the past six months, reflecting ongoing investor concerns about its financial performance and strategic transition.