Overview
- In March 2026, the bitcoin treasury firm sold 284 BTC for about $20 million at an average of roughly $70,422 per coin, a cut of about 5% of its stack and a loss versus its $118,171 cost basis.
- Nakamoto said the cash will support working capital, fund the integration of BTC Inc and UTXO Management, and seed a U.S. dollar reserve as it winds down its legacy healthcare business.
- Following the sale, reported holdings fell to about 5,058 BTC from 5,342 at year‑end 2025, and the company has not disclosed any new bitcoin purchases since last year.
- Shares closed at $0.21 after a 7.16% drop before a small after‑hours bounce, with the stock down about 40% this year and still below Nasdaq’s $1 minimum bid threshold noted in prior notices.
- A $210 million USDT loan from Kraken at 8% is secured by most of the company’s bitcoin, which can restrict flexibility and raise the risk of forced sales if prices fall, while 2025 results showed a $166.2 million fair‑value hit and a $52.2 million net loss; the firm also sold five million Metaplanet shares for about $11.1 million at a loss.