Nakamoto shares plunge about 99% from peak, Bloomberg reports

Shares of Nakamoto, led by CEO David Bailey, a Bitcoin adviser to President Donald Trump, have fallen about 99% from their peak, Bloomberg reported. The company raised about $760 million last year to build a Bitcoin reserve and announced plans in May 2025 to go public through a merger, but the stock later plunged. Bloomberg linked the drop to a broader decline in shares of listed companies holding large amounts of Bitcoin, while Bailey said he is now focused on proving Nakamoto has a sustainable business model beyond its Bitcoin holdings.