Nakamoto Holdings Sells Bitcoin, Shares Plummet
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Nakamoto Holdings, a publicly traded Bitcoin treasury firm, sold $20 million worth of Bitcoin to bolster its balance sheet, but shares plummeted to a new low. The company reported a $142.6 million loss in Q4 due to Bitcoins decline and a $10.8 million hit from an investment in Metaplanet. Despite the sales, they still hold 5,342 Bitcoin, valued at $359 million. Shares rebounded slightly, up 3.3% to $0.21, but are still down nearly 80% over the last six months. The company is now concentrating on enhancing operations, revenue, and strategic Bitcoin purchases for long-term growth.
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