Bitcoin Treasury Strategies Diverge: Nakamoto Sells BTC, Strategy Holds Position

ME News reports that on April 3 (UTC+8), Bitcoin treasury companies are diverging along two distinct paths amid sustained market pressure: Strategy is holding its massive BTC reserves unchanged, while Nakamoto Holdings is selling Bitcoin at a loss to rebalance its balance sheet. In March this year, Nakamoto Holdings sold approximately 284 Bitcoin (at an average price of around $70,400 per BTC), below its historical cost, raising roughly $20 million in proceeds for operational funding and merger-related investments. Its BTC holdings have now declined to just over 5,000 BTC, alongside a reduction in its equity stake in Japanese company Metaplanet, reflecting asset reallocation by digital asset treasury firms under pressure. In contrast, Strategy has paused new purchases but continues to hold approximately 762,000 BTC, maintaining its position as the largest corporate Bitcoin holder, demonstrating that some corporations still view BTC as a long-term reserve asset. Additionally, a proposed municipal bond backed by Bitcoin in New Hampshire has received a Ba2 speculative-grade rating from Moody’s, with an expected fundraising target of $100 million for public infrastructure projects—marking an early attempt to integrate digital assets with public finance. Meanwhile, digital asset management firm CoinShares has gone public on Nasdaq through a merger with SPAC Vine Hill Capital, providing public market investors with access to cryptocurrency products and infrastructure, further advancing the trend of crypto companies listing in the U.S. capital markets. (Source: ODAILY)