Nakamoto Holdings officially shut down all medical clinics and completely transformed into a Bitcoin operations company; Strive became the only publicly listed Bitcoin treasury company in the same period with an mNAV still above 1.

ME News, June 29, 2026 (UTC+8), according to a comprehensive disclosure by BBX Crypto Concept Stock Information, yesterday, as the global crypto asset market struggled to stabilize around $60,000 for Bitcoin, the internal differentiation within the Bitcoin Treasury corporate sector became increasingly apparent: the enterprise mNAV of Strategy, Metaplanet, and Nakamoto all fell below 1.0, meaning the market's overall valuation of these three companies is lower than the book value of their Bitcoin holdings; Strive, with an mNAV of 1.24, became the only Bitcoin Treasury listed company still trading at a premium to its Bitcoin holdings during the same period. At the same time, Nakamoto Holdings officially closed all of its medical clinics on June 19, completing a historic transformation from a healthcare company to a pure Bitcoin operating company, marking the substantive implementation of the "merger-driven Bitcoin Treasury" narrative.

[Key Updates]

• Nakamoto Holdings (Nasdaq: $NAKA) officially closed all of its medical clinics, and the medical operating entity Kindly LLC terminated all patient-facing medical services. The company's current Chairman and CEO David Bailey stated in a statement: "With the closure of the medical clinics, Nakamoto will focus on executing its strategy as a Bitcoin operating company." The company currently operates three pure crypto-native business lines: providing media and information services through BTC Inc. (which includes Bitcoin Magazine and Bitcoin Conference), asset management and advisory services through UTXO Management, and Bitcoin treasury accumulation. Nakamoto had received a Nasdaq delisting warning due to its stock price being below $1 for 30 consecutive trading days, and after executing a 1-for-40 reverse stock split on May 22, 2026, it again met compliance requirements. Its current enterprise mNAV is approximately 0.92, placing it at a moderate level among similar companies.
• Strive Inc. (Nasdaq: $ASST) latest enterprise mNAV data shows approximately 1.24, making it the only company among the major Bitcoin Treasury listed companies currently tracked that still maintains an mNAV above 1.0 — Strategy's enterprise mNAV has fallen to the range of about 0.80 to 0.70, Metaplanet is about 0.90, and Nakamoto is about 0.92, all below par. The core difference for Strive's premium is its zero-debt structure: the company does not hold any convertible bonds or borrowings, and only accumulates Bitcoin through the issuance of ASST common stock and SATA preferred stock financing. SATA, with an annualized dividend rate of 13%, is still trading near its $100 face value, in stark contrast to STRC's deep discount of $75. Strive has accumulated over 19,105 Bitcoins this year, most recently purchasing 759 Bitcoins on June 22 at an average price of approximately $65,850. Its zero-leverage accumulation model results in the least balance sheet pressure during the current Bitcoin downtrend. (Source: BBX)