Nakamoto Holdings Shifts Bitcoin Treasury Strategy After Stock Collapse
Nakamoto Holdings reported 4,467 BTC and $19.1M cash against $164.7M debt as of end-June 2026, sold 600 BTC to repay debt, and authorized a $25M buyback after a 1-for-40 reverse split.
Nakamoto Holdings, the Bitcoin treasury vehicle tied to Trump advisor David Bailey, has shifted from equity-funded accumulation to acquisitions and debt reduction after a 99 percent stock collapse and Nasdaq compliance actions.
The company reported 4,467 BTC valued at roughly $261.5 million and $19.1 million cash against $164.7 million total debt as of end-June 2026 in its SEC filing.
Actions taken
Nakamoto executed a 1-for-40 reverse split in May 2026 to regain compliance with Nasdaq's $1 minimum bid price, reducing shares from about 696.1 million to 17.4 million.
It sold approximately 600 BTC and related derivatives for $48 million net proceeds, most of which repaid $45 million of Bitcoin-backed debt.
The board authorized up to $25 million in share buybacks in June and extended about 105 million USDT principal to June 2027.
In February the company acquired BTC Inc. and UTXO Management through stock issuance valued at roughly $81.6 million.
What remains unknown
Bailey stated the company now seeks acquisitions that improve cash flow and hold strategic value to Bitcoin.
Exact current Bitcoin holdings and debt levels after June 2026 remain undisclosed, and the timing and scale of any further acquisitions or buybacks are unspecified.