David Bailey's Nakamoto is shifting away from the financing model that helped turn it into one of the most prominent Bitcoin treasury companies, searching instead for businesses that generate cash after its shares collapsed about 99% from their 2025 peak.
Bailey, a crypto entrepreneur who helped build industry support for President Donald Trump, told Bloomberg that Nakamoto is looking for acquisitions that can improve income and cash flow while supporting its broader Bitcoin strategy. With the stock now trading below the value of the company's Bitcoin holdings, issuing new shares to finance additional cryptocurrency purchases has become far less attractive.
