Bitcoin Treasury Boom Faces First Major Collapse

Satoshi Nakamoto Holdings' Bitcoin fund management experiment failed miserably, with its stock price plummeting 50% in a single day, and its current trading price has fallen 96% from its peak of $1.50 in May. The sell-off occurred after PIPE was unlocked, triggering the biggest drop in the field of corporate Bitcoin fund management. Although the company holds $665 million worth of 5,765 bitcoins, its collapse highlights wider risks, as one-third of bitcoin fund management companies currently trade below their bitcoin value, and some companies even use accounting to avoid being delisted.