Crypto Scenario Insights
What happened
Nasdaq-listed Nakamoto, Inc. has sold approximately 600 BTC ($48 million) to pay down debt, refinance its Kraken loan, and launch a $25 million share buyback.
What we think
The direct liquidity impact on the broader Bitcoin spot market is negligible. A $48 million liquidation (600 BTC) represents a minor fraction of global BTC spot trading volume, which consistently averages tens of billion…
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Nakamoto Inc. Liquidates BTC to Delever Balance Sheet: Strategic Prudence or Treasury Distress?
We explain what happened and what could follow. We do not forecast prices.