David Bailey’s NAKA sells roughly 5% of its BTC holdings
CoinDesk
Nakamoto Holdings sold 284 BTC for $20 million to bolster working capital, despite aiming for a bitcoin treasury strategy.Summary
Nakamoto Holdings (NAKA), founded by David Bailey, sold approximately 284 BTC for $20 million in March, representing about 5% of its holdings. This sale occurred despite the company’s stated intention to accumulate bitcoin, and the proceeds will be used to support working capital and fund operations following recent acquisitions. The company, which went public in May 2025, faces liquidity pressures, including an $210 million USDT loan from Kraken secured by its bitcoin holdings. Nakamoto remains unprofitable, reporting a pre-tax loss of $52.2 million for the year ended December 31, largely due to a decline in bitcoin’s price in late 2025. Its stock has plummeted 99% from its all-time high.
(Source：CoinDesk)