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

ME News update: On April 3 (UTC+8), Bitcoin treasury companies are charting two different paths under ongoing market pressure. Strategy is keeping 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 this March (at roughly $70,400 per unit), below its historical cost, and raised a total of about $20 million, which it plans to use for working capital and M&A-related investments. Its BTC holdings have fallen to more than 5,000 coins, along with a reduction in its stake in the Japanese company Metaplanet, reflecting how digital-asset treasury firms are restructuring their assets under pressure. By contrast, Strategy has paused buying, but it still holds about 762,000 BTC, continuing to maintain its position as the largest corporate bitcoin holder—showing that some companies still treat BTC as a long-term reserve asset.

In addition, the proposed issuance of bitcoin-backed municipal bonds in New Hampshire has received a Moody’s Ba2 speculative-grade rating, and is expected to raise $100 million for public infrastructure construction, becoming an attempt to combine digital assets with public financing. Digital asset manager CoinShares, meanwhile, merged with SPAC Vine Hill Capital and then listed on Nasdaq, giving retail-market investors opportunities to access crypto-asset products and related infrastructure, further advancing the development of crypto companies in the U.S. listing market. (Source: ODAILY)