Arkham: Nakamoto’s unrealized loss exceeds 35%, making it the worst-performing Bitcoin treasury company to date

Arkham posted on X stating that Nakamoto purchased approximately $679 million worth of Bitcoin at an average price of about $118,000 per BTC and has held it long-term without selling—except for a sale of 284 BTC at roughly $70,000 per BTC three months ago, resulting in cumulative losses of approximately $224 million. It is thus far the worst-performing Bitcoin treasury company. Currently, the market value of Nakamoto’s Bitcoin holdings has declined by over 35%, and its stock price has plunged 99.4%, falling from $1,000 (post-split adjusted) to $5.60. Its actual peak stock price reached only around $30, subsequently dropping below $0.20, prompting a 1-for-40 reverse stock split to comply with Nasdaq listing requirements.