Nakamoto's Reverse Split Bid to Stay Afloat
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Nakamoto, a Bitcoin treasury firm, is considering a reverse stock split to boost its plummeting shares and avoid Nasdaq delisting. With shares at around twenty cents, a ratio of one-for-twenty to one-for-fifty is being contemplated. This move aims to meet Nasdaqs one-dollar minimum bid rule. Shares in Bitcoin-related companies have been hit hard, reflecting Bitcoins recent drop. Nakamoto also filed to register over four hundred million shares for resale and has setups for future securities and an at-the-market program to sell new shares. The firm is navigating the crypto markets downturn, focusing on Bitcoins potential rebound.
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