The company sold Bitcoin at an average price of about 70,422 dollars per coin, which is significantly below its earlier average purchase cost.
Bitcoin treasury firm Nakamoto scaled back part of its holdings in the first quarter of the year. According to its Form 10 K filed on March 30, the company sold around 284 BTC in March, generating proceeds of roughly 20 million dollars.
This places the average selling price at approximately 70,422 dollars per Bitcoin.
Bought High, Sold Lower
The sale follows a period of strong accumulation after the company launched its Bitcoin strategy in August 2025. At that time, it purchased 5,342 BTC for about 631.39 million dollars, resulting in an average acquisition cost of roughly 118,171 dollars per Bitcoin.
The difference between the earlier purchase price and the recent selling price reflects a decline in market value over time. The company had already reported a loss of 166.2 million dollars linked to changes in the fair value of its digital asset holdings in 2025.
By the end of that year, Bitcoin had fallen to about 87,500 dollars, which was still below the firm’s average cost basis. The March sale appears to be part of a broader liquidity and capital management approach. The company explained that the proceeds would support operations, fund reinvestments, and cover working capital needs related to recent acquisitions.
Alongside the Bitcoin sale, the firm also reported selling 5 million shares of Metaplanet stock for about 11.1 million dollars in the first quarter. These transactions come after a period of major corporate activity, including the completion of acquisitions involving BTC Inc. and UTXO Management GP, LLC in February 2026. Those deals were largely financed through equity issuance.
In a separate statement, the company said Nakamoto continues to treat its Bitcoin holdings as a long term strategic treasury asset. It added that this approach reflects a disciplined capital strategy that separates long term Bitcoin exposure from short term liquidity needs while still maintaining upside exposure to price appreciation over time.
Digital Asset Treasuries Under Market Pressure
Volatility in crypto markets is weighing on the valuation of companies holding Bitcoin and similar digital assets, raising concerns about wider financial effects. Several publicly listed firms entered the sector last year expecting long term gains from rising prices, but current market conditions have been less supportive.
Recent reports indicate that Strategy is currently the main driver of Bitcoin treasury accumulation, continuing to dominate market activity. Over the past 30 days, the company has added about 45,000 BTC in what is its most aggressive accumulation phase since April 2025.#crypto#cryptonews https://coinsignals.nethttps://t.me/coinsignalpublic
