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

ME News update, April 3 (UTC+8): Under ongoing market pressure, Bitcoin treasury companies are moving toward two different paths. Strategy is keeping its massive BTC reserves unchanged, while Nakamoto Holdings is selling bitcoin at a loss to rebalance its balance sheet. In March this year, Nakamoto Holdings sold about 284 bitcoins (at a price of roughly $70.4k each), below historical cost, for a total cash-out of about $20 million, used for working capital and merger-and-acquisition related investments. The company’s BTC holdings fell to more than 5,000 coins, accompanied by a reduction in its equity stake in the Japanese company Metaplanet, reflecting how digital-asset treasuries are restructuring 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 view 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, 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, has listed on Nasdaq after merging with SPAC Vine Hill Capital, providing retail investors in the public market with an opportunity to access crypto asset products and infrastructure, further advancing the development of crypto companies in the U.S. listed-market. (Source: ODAILY)