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Bitcoin treasury Nakamoto down 98% — still pays David Bailey lavishly

Nakamoto originally promised a 10x EBITDA multiple when it would acquire David Bailey’s private business, BTC Inc.

Could a hostile takeover be the end of the line for Nakamoto?

Nakamoto has declined 98% since its May 22 peak. At such prices, what would it take to become the target of a hostile takeover?

Since May 12, David Bailey’s Nakamoto has plummeted from $28.50 per share to $0.96, a 96% loss for shareholders.

David Bailey was supposed to lead bitcoin treasury companies to new heights. Instead, his NAKA stock has crashed 90% in less than four months.

Bitcoin treasury company executives rejoiced when Donald Trump became President, and they want to win again in the 2026 mid-term elections.