Nakamoto, the Bitcoin treasury firm formerly known as KindlyMD, sold roughly $20 million of Bitcoin in March and reduced a large portion of its Metaplanet holding at a loss during Q1. According to a company filing, the sale and disposals were intended to “invest further in our businesses as well as replenish our working capital for costs associated with the recent Mergers.”
The company sold about 284 BTC for roughly $20 million, an implied average price near $70,400 per coin. At the end of 2025 Nakamoto had valued its Bitcoin at $87,519 per coin when it reported holding 1,625 BTC worth about $142.2 million, so the March sale occurred at roughly a 20% discount to that year‑end valuation. After the March sale, Nakamoto’s reported Bitcoin balance stood at about 5,058 BTC, down from 5,342 BTC at the end of 2025.
On the equity side, Nakamoto trimmed a significant stake in Metaplanet. The company had purchased 8 million Metaplanet shares at $3.75 each (approximately $30 million). In Q1 it sold 5 million of those shares for roughly $11.1 million, or about $2.22 per share. The position had already been written down by the end of 2025: Nakamoto reported an unrealized loss of $9.29 million on the Metaplanet holding, including foreign exchange impacts, reducing the carrying value to $20.7 million.
Nakamoto reported a $166.2 million loss in 2025 tied to changes in the fair value of its crypto holdings after Bitcoin fell below its average purchase price, and posted a net loss of $52.2 million for the year. Chairman David Bailey said the company plans to wind down legacy healthcare operations and focus on integrating recent acquisitions such as BTC Inc and UTXO Management.
The company’s shares have plunged in recent months — down about 40% year‑to‑date and roughly 80% over the past six months — trading near $0.21 at the time of reporting, well below a mid‑2025 peak above $30. In December 2025, while still trading as KindlyMD, Nakamoto received a Nasdaq notice after its share price fell below the $1 minimum bid for 30 consecutive business days, triggering a six‑month window to regain compliance or face delisting.