Corporate Bitcoin treasury strategies diverge: Nakamoto reduces positions to cut losses, Strategy remains on hold

Odaily Planet Daily News: Under ongoing market pressure, Bitcoin Treasury companies are heading toward two different paths: Strategy keeps its massive BTC reserves unchanged, while Nakamoto Holdings is selling Bitcoin at a loss to rebalance its balance sheet.

Nakamoto Holdings sold about 284 Bitcoins in March this year (at roughly $70.4k per coin), below historical cost. The company raised approximately $20 million in total cash proceeds, which were used for operating capital and acquisition-related investments. Its BTC holdings fell to more than 5,000 coins, along with a reduction in equity in Japan-based company Metaplanet, reflecting how digital asset treasury firms are restructuring their assets under pressure. By contrast, Strategy paused purchases but still holds about 762,000 BTC, maintaining its position as the corporate sector’s largest Bitcoin holder—showing that some companies continue to treat BTC as a long-term reserve asset.

In addition, a proposed issuance of Bitcoin-backed municipal bonds by New Hampshire has received a Moody’s Ba2 speculative-grade rating. It is expected to raise $100 million for public infrastructure construction, making it an experiment in combining digital assets with public finance. Digital asset manager CoinShares, meanwhile, has merged with SPAC Vine Hill Capital and listed on Nasdaq, giving retail market investors access to crypto-asset products and infrastructure-related opportunities, further advancing the development of crypto companies in the U.S. listed markets. (Cointelegraph)