Nakamoto Sells $134M Bitcoin as Liquidity Crunch Forces Restructuring

On June 12 Nakamoto sold $134 million in Bitcoin holdings to tackle a severe liquidity crunch and advance its debt restructuring. This follows the June 11 announcement of selling roughly 600 BTC and derivatives for $48 million to repay $45 million in Kraken debt, with the remaining $165 million USDT refinanced into tranches due December 2026 and June 2027 at a reduced 7.75% rate. The company also authorized a $25 million share buyback and now holds 4,467 BTC, expecting $4 million in annual interest savings. Shares had risen 9.5% to $4.47 on the initial news, though the larger reported sale highlights ongoing pressure on leveraged Bitcoin treasury firms.