Nakamoto Inc. shares plummet 99% from peak amid digital asset treasury collapse

According to Bloomberg, David Bailey, the crypto entrepreneur who helped steer Trump toward Bitcoin, has seen shares of his publicly traded company, Nakamoto Inc., plunge approximately 99% from their peak since the merger was announced in May 2025. Previously, Bailey had raised about $760 million for the company to hold Bitcoin as reserves, and his hedge fund achieved a staggering 640% return. This collapse reflects the broader downturn among digital asset treasury companies, as the premium investors were once willing to pay for Bitcoin exposure through public companies has largely evaporated. Bailey says he continues to maintain sporadic contact with the White House and is currently focused on demonstrating that the company still has a viable business foundation despite the collapse.