Nakamoto Inc. Sells $20 Million Worth of BTC Amid Declining Corporate Demand

Nakamoto Inc., a leading provider of treasury services for Bitcoin, has made headlines with the sale of 284 BTC worth approximately $20 million in March. This strategic move is part of the company's plan to create a US dollar operating reserve, which will be used to finance various projects and expenses.

The sale implies an average exit price of roughly $70,422 per coin, marking a significant reduction from the weighted average purchase price of $118,171 per BTC. This decline in demand for corporate Bitcoin is further reflected in the company's financial reports, which show a substantial loss from changes in the fair value of its digital assets.

According to CryptoQuant data, Strategy (formerly MicroStrategy) now accounts for approximately 76% of all Bitcoin held by treasury firms, marking a significant decline in participation. This concentration highlights the challenges faced by corporate treasuries in the current market conditions.