Nakamoto, the publicly traded Bitcoin treasury company, has seen its shares collapse nearly 67% so far in 2026 after implementing a reverse stock split. The company remains one of the larger corporate Bitcoin holders, owning 5,058 BTC, though it now ranks 20th among publicly traded Bitcoin treasury firms.
A brutal year for the stock
The reverse split — a move meant to prop up the per-share price by reducing the number of outstanding shares — hasn’t stopped the slide. Nakamoto’s market cap has eroded significantly this year, and the stock continues to trade under pressure. Investors appear to be pricing in concerns beyond the mechanics of the split.
5,058 Bitcoin in the vault
Despite the stock decline, Nakamoto’s Bitcoin holdings remain substantial. The company’s 5,058 BTC puts it in 20th place globally among public companies that hold Bitcoin on their balance sheets, according to Bitcoin Treasuries data. That’s a notable stash even as the stock price falters.
Treasury vs. share price
The divergence between Nakamoto’s Bitcoin hoard and its stock value is stark. While the company owns a meaningful amount of the world’s largest cryptocurrency, its shares have lost two-thirds of their worth this year. For now, the market is focused on the stock’s trajectory — not the Bitcoin sitting in the vault.
