Nasdaq-listed NAKA sold Bitcoin and derivatives to reduce debt and extend maturities amid BTC’s 21% monthly decline.
Nakamoto Inc. sold approximately $48 million worth of Bitcoin and derivatives to reduce its debt by $45 million. The company also refinanced $105 million in USDT debt, extending its maturity to June 2027. The moves aim to strengthen its balance sheet amid market volatility.
Bitcoin has fallen over 21% in the past month, dropping below $60,000 for the first time since 2024. The cryptocurrency remains nearly 50% below its October peak of $126,000. Nakamoto’s actions follow a broader downturn in crypto markets.
NAKA shares rose nearly 10% on the day but remain down 39% over the past month. The company also authorized a $25 million share buyback program as part of its financial strategy.