Nakamoto, the bitcoin treasury company formerly known as KindlyMD, sold $20 million worth of bitcoin in March and cut a chunk of its stake in Metaplanet at a loss during the first quarter of the year.
The company, headed by David Bailey, sold approximately 284 bitcoins (BTC) for $20 million, meaning an average price of about $70,400 per coin. At the end of 2025, Nakamoto valued his Bitcoin at $87,519 per coin, when he owned 1,625 Bitcoin worth $142.2 million, suggesting the sale came at a 20% discount to the year-end valuation.
“We plan to use the proceeds to invest further in our business as well as replenish our working capital to cover costs associated with the recent mergers,” the company said in a statement.
The company’s Bitcoin holdings stand at around 5,058 BTC after selling 284 BTC in March, down from 5,342 BTC at the end of 2025.
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Nakamoto exits Metaplanet stake at a loss
Besides selling cryptocurrencies, Nakamoto also exited a large portion of her position in Metaplanet at a loss. The company acquired eight million shares at a price of $3.75 per share, for a total cost of about $30 million. In the first quarter, it sold five million shares for approximately $11.1 million, translating to a price of $2.22 per share.
Metaplanet’s investment had already been written down by the end of 2025. Nakamoto reported an unrealized loss of US$9.29 million on the position, including foreign exchange effects, with the book value reduced to US$20.7 million.
Nakamoto reported a loss of $166.2 million in 2025 related to changes in the fair value of his cryptocurrency holdings, as Bitcoin fell below its average purchase price. The company reported a net loss of $52.2 million for the year.
Related to: Metaplanet raises $255 million and adds escrow structure to buy Bitcoin
Nakamoto exits healthcare
In a statement, Bailey said Nakamoto plans to divest his legacy healthcare operations with an eye on integrating recent acquisitions, including BTC Inc and UTXO Management.
Nakamoto shares have fallen sharply in recent months. The company’s shares are down 40% year-to-date and 80% over the past six months, according to data from Yahoo! finance. Nakamoto shares are trading at around $0.21 at the time of writing, well below its mid-2025 peak above $30.
In December 2025, when the company was still trading as KindlyMD, it received notice from the Nasdaq stock exchange after its shares fell below the $1 minimum offering price for 30 consecutive business days, triggering a six-month window to regain compliance or face delisting.
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