Nakamoto: company with $343M in BTC trades at half price
- —Nakamoto holds $343 million in BTC
- —Company's market cap is $147 million
- —Discount to reserve is over 57%
- —CEO is David Bailey, head of Bitcoin Magazine
Why it matters: The record discount to NAV shows that the market does not believe in the crypto treasury company model and values them below asset value.
Source: BTC-ECHO