Bitcoin ($BTC) treasury firm Nakamoto (NAKA) promoting its $BTC at a loss might sign capitulation of extra crypto treasury corporations and the beginning of a “contagion” that might spark a wave of pressured promoting, in line with market analyst Nic Puckrin.
“Cracks are starting to point out within the digital asset treasury (DAT) market,” Puckrin mentioned, including that the battle within the Center East will seemingly place additional strain on Bitcoin’s worth and treasury corporations in a reinforcing cycle. He mentioned:
“Value is more likely to stay under $70,000 for a while and will fall additional to a variety round $55,700-$58,200 within the coming weeks. This ongoing weak point would put additional strain on DATs, which might in flip exacerbate the sell-off.”
Nakamoto offered 284 $BTC in March for $20 million, implying a worth of about $70,000 per coin; the corporate additionally decreased its stake within the publicly traded Bitcoin treasury firm Metaplanet, promoting shares at a loss.
On the finish of 2025, the corporate valued its 5,342 $BTC treasury at $467.5 million and recorded a $166.1 million loss on the truthful worth of its digital asset holdings within the fourth quarter, in line with the corporate’s 10-Ok submitting with the Securities and Trade Fee (SEC).
The crypto treasury sector noticed a collapse in internet asset worth premiums throughout Q3 2025, and inventory costs declined even earlier than the crypto market crash in October 2025, which sparked a chronic bear market and a decline in digital asset costs.
Associated: Bitcoin miners offload 15K $BTC since October, with extra gross sales anticipated
MARA additionally sells $BTC in March as market rout continues
Bitcoin mining firm MARA additionally offered 15,133 Bitcoin in March, valued at over $1 billion, to repurchase and retire about $1 billion in convertible debt.
MARA’s vice chairman for investor relations, Robert Samuels, mentioned the sale doesn’t sign a core shift within the firm’s $BTC treasury technique, however is a short-term tactical transfer.
“We might purchase or promote sometimes, topic to market situations and our capital allocation priorities. It doesn’t imply we intend to liquidate nearly all of our reserves,” Samuels mentioned.
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