The treasury firm Nakamoto, which has been constantly expanding its Bitcoin treasury, has signed definitive agreements to acquire media company BTC Inc and asset management firm UTXO Management. This transaction is valued at approximately $107.3 million.
The deal will be completed entirely through stock. In order to conclude the transaction, Nakamoto intends to issue 363 million shares; the closing is anticipated in the first quarter of 2026.
Bitcoin Magazine and The Bitcoin Conference are two of the well-known properties run by BTC Inc. Additionally, it oversees the “Bitcoin for Corporations” program. Meanwhile, UTXO Management receives advice from 210k Capital, a hedge fund that invests in public and private markets related to Bitcoin.
CEO David Bailey claims that the purchase is the first phase of creating a larger ecosystem centered around Bitcoin. According to Bailey, Nakamoto wants to run businesses that provide asset management, consulting, and media services, all of which are in line with Bitcoin’s long-term development.
However, the deal has attracted attention due to the significant difference between the original valuation expectations and the final execution price.
Earlier discussions reportedly valued the transaction at more than $400 million, based on a higher share price. Nakamoto’s stock is now trading below $0.30, a level which is down sharply from around $2.00 before it shifted to a Bitcoin treasury strategy. The final value of the deal stands closer to $107 million.
According to some observers, the acquisition is a related-party agreement because Bailey is a leader in several of the organizations involved.
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