Bitcoin treasury firm Nakamoto reduced part of its Bitcoin holdings during the first quarter of the year, after selling approximately 284 BTC in March for about $20 million, as per the Form 10-K it filed on March 30. This implies an average sale price of roughly $70,422 per coin.
Key takeaways
Quick scan — what you need to know:
- Bitcoin treasury firm Nakamoto reduced part of its Bitcoin holdings during the first quarter of the year, after selling approximately 284 BTC in March for about $20 million, as per the Form 10-K it…
- This implies an average sale price of roughly $70,422 per coin.
- Bought High, Sold Lower The transaction comes after a year of heavy accumulation following the launch of its Bitcoin strategy in August 2025, when the company reported net purchases of 5,342 BTC at…
- The gap between the prior acquisition cost and the recent sale price reflects the decline in BTC’s market value over that period, which the company had already flagged through a $166.2 million…
Background
What led here, in plain terms:
- As of the end of that year, Bitcoin prices had fallen to $87,500, below the firm’s average entry level.
- The March sale appears to be part of a broader liquidity and capital management strategy.
- The company stated that proceeds would be used to support operations, reinvest in its businesses, and cover working capital needs tied to recent acquisitions.
- In addition to the sale, the company also disclosed the divestment of 5 million shares of Metaplanet stock for approximately $11.1 million in the first quarter.
Why it matters
Why readers and decision-makers should care:
- As recently reported by CryptoPotato, Strategy is now the sole driver of Bitcoin treasury buying activity, which is still effectively dominating the market.
- Over the last 30 days, the company has added about 45,000 BTC, in its most aggressive accumulation since April 2025.
- The post Bought High, Sold Lower: Nakamoto Trims Bitcoin Holdings as Prices Slide appeared first on CryptoPotato.