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Nakamoto Holdings stock plummeted 98% after a 563 million USD deal.
The company holding Bitcoin, Nakamoto Holdings, witnessed its shares fall over 98% from the peak in May after a private investment deal worth 563 million USD (PIPE) triggered a strong sell-off.
CEO David Bailey stated that Bitcoin Magazine, Bitcoin Conference, and 210k Capital will merge into Nakamoto to increase cash flow and build a “Bitcoin-first” corporation.
Currently, the company holds 5.765 BTC (≈653 million USD), ranking 19th among the largest listed organizations holding Bitcoin.