Nakamoto, the Bitcoin treasury company formerly known as KindlyMD, sold $20 million of Bitcoin in March and trimmed a large portion of its Metaplanet stake at a loss in the first quarter.
The firm, chaired by David Bailey, disposed of roughly 284 Bitcoin (BTC) for about $20 million, implying an average price near $70,400 per coin. At the end of 2025, Nakamoto had valued its Bitcoin at $87,519 per coin when it held 1,625 BTC worth $142.2 million, indicating the March sale occurred at roughly a 20% discount to that year-end valuation.
In a filing, the company said the proceeds would be used “to invest further in our businesses as well as replenish our working capital for costs associated with the recent Mergers.” After the March sale, Nakamoto’s Bitcoin holdings stood at about 5,058 BTC, down from 5,342 BTC at the end of 2025.
Alongside the crypto sale, Nakamoto exited a significant portion of its Metaplanet position at a loss. The company had purchased eight million Metaplanet shares at $3.75 each, costing about $30 million. In Q1 it sold five million shares for roughly $11.1 million, or about $2.22 per share.
The Metaplanet holding had already been written down by the end of 2025: Nakamoto reported an unrealized loss of $9.29 million on the position, including foreign exchange impacts, with the carrying value reduced to $20.7 million.
Nakamoto reported a $166.2 million loss in 2025 tied to changes in the fair value of its crypto holdings as Bitcoin dropped below its average purchase price. The company posted a net loss of $52.2 million for the year.
In a statement, Bailey said Nakamoto plans to wind down legacy healthcare operations and concentrate on integrating recent acquisitions, including BTC Inc and UTXO Management.
Nakamoto’s shares have tumbled in recent months, down about 40% year-to-date and roughly 80% over the past six months, trading around $0.21 at the time of reporting — far below a mid-2025 peak above $30. In December 2025, when the company still traded as KindlyMD, it received a Nasdaq notice after its shares fell below the $1 minimum bid price for 30 consecutive business days, triggering a six-month window to regain compliance or face delisting.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
