Nakamoto Inc. Activates BTC Treasury With Derivative Trading Strategy, Holds 5,058 BTC

Gate News message, April 24 — Nakamoto, Inc. (Nasdaq:NAKA) has announced an active management strategy for its Bitcoin treasury, marking a shift from idle holdings to derivative-based income generation. The company holds 5,058 BTC, ranking 20th among public companies with BTC holdings, and recently sold 284 BTC at $70,400 per coin below its cost basis.

Nakamoto has partnered with Bitwise as its strategy manager and a major crypto exchange for custody and trade execution. As of April 24, Nakamoto’s known wallet held 3,988 BTC, with some coins already deployed in the program during Q1. The company will trade BTC implied volatility through a dedicated vehicle, using protective put options and put spreads to hedge downside risk while generating income from sold call options. Funds generated will be used to acquire more BTC, cover operating costs, or serve as working capital.

The strategy reflects a broader challenge for Bitcoin treasury companies seeking returns without selling holdings. Nakamoto’s mNAV metric stands at 0.24, the lowest among comparable companies. NAKA stock has declined 99% since its May 2025 peak of $22.60, currently trading near $0.21. If successful, Nakamoto’s approach could provide a blueprint for other public companies managing large BTC treasuries.