Nakamoto divests $20M Bitcoin holdings while reducing Metaplanet position
Under David Bailey's leadership, Nakamoto is transitioning away from healthcare business to concentrate on merging BTC Inc and UTXO Management operations.
The Bitcoin treasury firm Nakamoto, which previously operated under the name KindlyMD, liquidated $20 million in Bitcoin holdings during March while simultaneously reducing its Metaplanet investment position at a significant loss throughout the opening quarter of this year.
Under the chairmanship of David Bailey, the firm liquidated approximately 284 Bitcoin (BTC) in exchange for $20 million, indicating an average sale price of roughly $70,400 for each coin. By the conclusion of 2025, Nakamoto had assigned a value of $87,519 per coin to its Bitcoin portfolio, when the company possessed 1,625 BTC with a total worth of $142.2 million, indicating that the transaction occurred at approximately a 20% markdown from its end-of-year assessment.
"We plan to use the proceeds to invest further in our businesses as well as replenish our working capital for costs associated with the recent Mergers," the company said in a filing.
Following the March divestment of 284 BTC, the company's Bitcoin portfolio currently stands at approximately 5,058 BTC, representing a decline from the 5,342 BTC held at the conclusion of 2025.
Nakamoto exits Metaplanet stake at loss
In addition to its cryptocurrency divestment, Nakamoto also liquidated a substantial portion of its Metaplanet holdings, incurring a loss on the transaction. The company had originally purchased eight million shares at a price of $3.75 per share, representing a total investment of approximately $30 million. During the first quarter, the firm sold five million of these shares for approximately $11.1 million, suggesting a per-share price of $2.22.
By the end of 2025, the Metaplanet investment had already undergone a markdown. Nakamoto disclosed an unrealized loss totaling $9.29 million on this position, which included impacts from foreign exchange fluctuations, bringing the carrying value down to $20.7 million.
For 2025, Nakamoto disclosed a $166.2 million loss attributed to fluctuations in the fair value of its cryptocurrency portfolio, as Bitcoin dropped beneath the company's average acquisition cost. The firm recorded a net loss totaling $52.2 million for the entire year.
Nakamoto exits healthcare
According to a statement from Bailey, Nakamoto intends to phase out its legacy healthcare business operations while concentrating efforts on the integration of newly acquired companies, which include BTC Inc and UTXO Management.
The company's stock has experienced a dramatic decline in recent months. Nakamoto's shares have decreased by 40% on a year-to-date basis and have plummeted 80% during the past six-month period, based on information from Yahoo! Finance. At the time of publication, Nakamoto's shares were trading at approximately $0.21, significantly beneath their mid-2025 high point of over $30.
During December 2025, while the company was still operating under the KindlyMD name, it was issued a Nasdaq notification following its shares' decline below the required $1 minimum bid price threshold for 30 consecutive business days, initiating a six-month compliance period to meet the requirement or risk removal from the exchange.