Shares of Nakamoto (NAKA), a company with a Bitcoin treasury, fell more than 10% on Wednesday following a 1-for-40 reverse stock split implemented to comply with Nasdaq listing requirements. This was reported by Cointelegraph.com reporting .
NAKA shares have declined by nearly 67% year-to-date (YTD) and by more than 99% from their May 2025 peak of $34. In April, the share price had fallen to $0.16 before the reverse split. In December, Nasdaq warned the company of delisting because its share price remained below $1 for 30 consecutive days.
According to company data, the reverse split reduced the number of outstanding shares from 696 million to approximately 17.4 million. Nakamoto's decline occurs against the backdrop of a general downturn in the Bitcoin treasury sector in 2025, though the company has significantly underperformed other major industry players.
The industry leader, MicroStrategy (MSTR), has grown 2.5% year-to-date and is trading at around $155 per share. Twenty-One Capital (XXI), which holds 43,514 Bitcoin, has lost more than 17% year-to-date. Meanwhile, Strive Asset Management (ASST) shares have shown growth of over 20% year-to-date.
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