Debt Exceeds Market Cap: Nakamoto Owes Kraken $165 Million

Odaily reports: Bitcoin News posted on X that David Bailey's bitcoin treasury company Nakamoto owes Kraken $165 million, exceeding its $104 million market cap. The company's average purchase price for bitcoin was approximately $118,000. Kraken has agreed to extend the repayment deadline for $60 million to December 2027, while the remaining $105 million will mature in June 2027. Nakamoto holds 4,283 BTC, of which 3,030 BTC is pledged as loan collateral, currently valued at approximately $208 million.