Nakamoto Holdings has sold approximately 284 Bitcoin from its treasury during March for about $20 million. The sale price averaged roughly $70,422 per coin, which is significantly below the company’s weighted average acquisition cost of $118,171 from its purchases in 2025. The proceeds are intended for operational needs and reinvestment following recent acquisitions.
The Bitcoin treasury firm Nakamoto sold part of its holdings in the first quarter. It offloaded roughly 284 BTC in March for approximately $20 million, as disclosed in a recent regulatory filing.
This implies an average sale price of about $70,422 per coin. The transaction follows a period of heavy accumulation in 2025.
The company reported net purchases of 5,342 BTC last year at a total cost of roughly $631 million. That translates to a weighted average purchase price of about $118,171 per BTC.
The gap between the acquisition cost and the recent sale price reflects the decline in Bitcoin’s market value. The company had already flagged a $166 million loss on the change in fair value of its digital asset holdings in 2025.
As of the end of that year, Bitcoin prices had fallen to $87,500. The March sale appears to be part of a broader liquidity and capital management strategy.
The company stated that proceeds would support operations, reinvestment, and working capital needs tied to recent acquisitions. In a separate report, the team stated, “Nakamoto continues to view its Bitcoin holdings as a long-term strategic treasury asset.”
Management believes this approach reflects a disciplined capital strategy. It separates long-term Bitcoin exposure from short-term operating liquidity.
Ongoing turbulence in crypto markets is dragging down valuations of companies holding BTC. This has prompted concerns about potential spillover effects.
A wave of publicly traded firms entered the crypto space last year expecting long-term gains. However, current trends are less than favorable.
As recently reported, corporate strategy is now the sole driver of Bitcoin treasury buying activity. This activity is still effectively dominating the market.
