Nakamoto Inc. (Nasdaq: NAKA), a Bitcoin reserve company chaired by businessman David Bailey , recently released its financial report showing that it sold approximately $20 million worth of Bitcoin in March at a significantly lower price than its previous Medium purchase price. This move indicates a clear strategic shift by one of the leading "Bitcoin Treasury" companies in the market.
According to the filing, the company sold approximately 284 BTC for a total value of nearly $20 million, equivalent to an Medium price of around $70,422 per BTC. The proceeds will be used to supplement working Capital and continue investing in core business areas after the company completed a series of recent mergers and acquisitions.
The move to sell Bitcoin comes amidst significant volatility in the crypto market throughout 2025. Reports indicate Nakamoto recorded a loss of $166.2 million due to changes in the fair value of the digital asset as the price of Bitcoin plummeted from its Medium purchase price of $118,171/ BTC. As of December 31, 2025, the price of Bitcoin was only $87,519, making the $20 million sale in March a "loss-cutting" transaction at a discount of approximately 40% compared to the Capital cost.
At the end of 2025, the company still held $467.5 million in digital assets, including 1,625 uncollateralized BTC , valued at approximately $142.2 million at the time of reporting. However, overall business results showed a sharp increase in net losses in 2025 to $52.2 million, significantly higher than the $3.6 million loss of the previous year. These figures clearly reflect the pressure that companies holding Bitcoin face in volatile markets.
Alongside adjusting its crypto portfolio, Nakamoto also announced it will withdraw from the healthcare sector – its former business area which is expected to generate only $1.8 million in revenue in 2025, down from $2.7 million the previous year. Management stated that the company's next phase will focus on integrating acquisitions, improving operational efficiency, and expanding its product and service offerings within the Bitcoin ecosystem.
Last month, Nakamoto completed the acquisition of BTC Inc – a crypto media and events operator – and UTXO Management, an investment firm specializing in Capital in publicly traded and private Bitcoin businesses. These deals demonstrate his ambition to build a comprehensive Bitcoin ecosystem, encompassing media, investment, and financial services.
