Bitcoin stash compiled by mysterious founder suffers significant 35% decline, now trails peers in returns.

Bitcoin has failed to keep up with the 2024 and 2025 hype, and the market has largely remained bearish throughout 2026. Since touching a local high of $126k in October 2025, Bitcoin has declined significantly, now hovering around $73k.

With the crypto down 41% from its ATH and 30% the past year, institutional investors who rushed into the market in 2025 are counting losses.

Nakamoto tops the list of the worst-performing Bitcoin Treasuries

With the market underperforming, some treasuries, such as Nakamoto Inc., have seen their losses hit record levels.

According to Arkham, Nakamoto bought $679 million worth of $BTC at an average price of $118k per $BTC. Even as the market continued to decline, they held out, anticipating a rebound.

Source: Arkham

However, the downtrend has persisted. For that reason, they have lost around $224 million in less than a year. Three months ago, they were forced to sell some holdings at a loss, offloading 284 $BTC at $70k.

Currently, Nakamoto is down over 35% on their $BTC holdings. The continued poor performance of its Bitcoin bet has also significantly affected the company’s stock price.

Source: Yahoo Finance

As such, the firm’s stock price plummeted 99.3%, from $956 to $6.5 over the past year. This suggests that the stock’s value jumped in May 2025, as the firm turned to aggressive $BTC accumulation.

However, the continued market dip led investors to dump stocks, fearing further losses, indicating a correlation with $BTC.

Treasuries forced to sell as losses hit $34 billion

While Nakamoto losses have skyrocketed, they have yet to make any significant sale, a stark contrast from other market players.

During the extended period of market weakness, the total value held by Bitcoin treasuries has plunged from $124 billion to $90 billion. This marks a $34 billion, or 27%.

Source: Coinglass

As a result, some of these treasuries have sold significantly. AMBCrypto reported that Trump Media sold 2650 $BTC worth $205 million.

They were forced to sell as losses skyrocketed to $455 million. That’s not all; AMBCrypto also reported that KULR Tech dumped $24 million worth of $BTC as losses continued.

Interestingly, even Strategy has signaled the likelihood of selling. In fact, the strategy moved 411 $BTC worth $30 million to Coinbase.

However, due to the market tension the deposit caused, it seems they canceled the deposit and withdrew 411 $BTC, worth $30 million.

Therefore, given the current trajectory, it seems even Nakamoto will be forced to sell, either to cut losses or to fund operations.

Final Summary

Nakamoto, branded as the worst-performing Bitcoin Treasury, with $BTC holdings down over 35% and losses totaling $224 million.

Bitcoin treasuries are forced to sell as losses have jumped to $34 billion.