Nakamoto Games (NAKA)

Bitcoin Treasury Company "Nakamoto" is now down 99.4% from its peak.

$10,000 invested in $NAKA last year is worth just $60 today. https://t.co/CDozghkEjC

If you invested $1,000,000 in this company a year ago, Today you would have nearly $6,000.

A Bitcoin treasury company Nakamoto $NAKA crashed -99.30% in less than a year from its peak market cap of $24 billion to just $180 million erasing $23.3B in value.

They company came under fire after the filing revealed that they just sold $20M worth of BTC at $70K which they bought at an average buying price of $118K, booking a -40% loss.

The core issue is simple. Bitcoin is trading far below their cost basis, so the value of their treasury is shrinking while liabilities remain fixed.

At the same time, the stock has collapsed below $1 for 30+ consecutive days, which directly triggers Nasdaq non compliance. If this is not fixed, the stock is expected to be delisted by 8 June 2026.

Once delisted: liquidity drops → institutional access reduces → raising capital becomes extremely difficult.

Now look at the debt side. Nakamoto originally raised $510 Million through a PIPE and $200 Million in senior secured convertibl