Nakamoto loses $224M on Bitcoin bet as stock crashes 99% Nakamoto is sitting on a $224 million unrealized loss after buying Bitcoin near the 2025 peak at an average price of $118,171 per BTC. Primary reason: The company accumulated BTC aggressively at high prices and held through a 40%+ market decline. Secondary reasons: Limited profit-taking and liquidity needs forced some BTC sales at lower prices, locking in losses. Near-term market outlook: Nakamoto remains highly dependent on Bitcoin's price. A recovery could improve its balance sheet, while further weakness may increase pressure to sell holdings. Market Outlook: Bearish The company's 99% stock decline highlights the risks of leveraged corporate Bitcoin strategies when purchases are made near cycle highs.