Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

David Bailey of Nakamoto denies rumors of selling BTC

robot
Abstract generation in progress

David Bailey, CEO of Nakamoto Holdings, spoke out after BTC Treasuries reported that the company had “sold” 367 BTC, reducing its holdings to 5,398 BTC. Bailey asserted that Nakamoto did not sell BTC but rather “invested” in international reserve companies such as TreasuryBTC and Metaplanet, viewing this as a strategy to commercialize the balance sheet. However, the Bitcoin community still considers this a sale, especially as BTC is weakening and NAKA stock has dropped sharply.

Bailey explained that Nakamoto swapped BTC for shares valued based on “Bitcoin per share” and will reclaim the BTC when these investments grow. Nevertheless, criticism has increased as the company previously lost more than $23 million and plans to pay a valuation 10 times EBITDA for BTC Inc., Bailey’s own business. The stock deal, worth about $273 million, is currently higher than NAKA’s market capitalization, making Bailey appear to be the biggest beneficiary.

BTC-1.29%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)