Corporate Bitcoin Treasury Strategies Diverge: Nakamoto Sells at a Loss, Strategy Holds Steady

Odaily News Corporate Bitcoin treasury companies are diverging under sustained market pressure: Strategy is holding its massive BTC reserves steady, while Nakamoto Holdings is selling Bitcoin at a loss to adjust its balance sheet.

Nakamoto Holdings sold approximately 284 Bitcoin (at a unit price of around $70,400) in March this year, below its historical cost, raising about $20 million in total for operational funds and M&A-related investments. The company's BTC holdings have decreased to just over 5,000, accompanied by a reduction in its equity stake in the Japanese company Metaplanet, reflecting the asset restructuring of digital asset treasury companies under pressure. In contrast, while Strategy has paused purchases, it still holds approximately 762,000 BTC, maintaining its position as the corporate entity with the largest Bitcoin holdings, indicating that some companies still view BTC as a long-term reserve asset.

Furthermore, New Hampshire's proposed issuance of Bitcoin-backed municipal bonds has received a Moody's Ba2 speculative-grade rating. The issuance is expected to raise $100 million for public infrastructure construction, representing an attempt to combine digital assets with public financing. Meanwhile, digital asset management firm CoinShares has listed on Nasdaq following a merger with SPAC Vine Hill Capital, providing public market investors with access to crypto asset products and infrastructure and further advancing the development of crypto companies in the US public listing market. (Cointelegraph)