{"id":88959,"date":"2025-09-16T13:34:23","date_gmt":"2025-09-16T10:34:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88959"},"modified":"2025-09-16T13:35:24","modified_gmt":"2025-09-16T10:35:24","slug":"shares-of-david-baileys-bitcoin-company-plummet-by-95","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/shares-of-david-baileys-bitcoin-company-plummet-by-95\/","title":{"rendered":"Shares of David Bailey&#8217;s Bitcoin Company Plummet by 95%"},"content":{"rendered":"<p>The shares of Nakamoto, formerly known as Kindly MD, have plummeted by 95% over three months\u2014from $35 to $1.3. The decline continued following the release of a controversial letter to investors.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"471\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-eb4a6c4b9259f31f-4411079435014340-1024x471.png\" alt=\"image\" class=\"wp-image-265842\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-eb4a6c4b9259f31f-4411079435014340-1024x471.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-eb4a6c4b9259f31f-4411079435014340-300x138.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-eb4a6c4b9259f31f-4411079435014340-768x353.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-eb4a6c4b9259f31f-4411079435014340-1536x706.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-eb4a6c4b9259f31f-4411079435014340.png 1814w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">4-hour NAKA\/USD chart on Nasdaq. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=NASDAQ%3ANAKA\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>On September 15, the firm&#8217;s CEO, David Bailey, who is also the founder of Bitcoin Magazine, <a href=\"https:\/\/irp.cdn-website.com\/1311a319\/files\/uploaded\/Shareholder+Letter+-+September+15-+2025.pdf\">warned<\/a> of impending NAKA volatility in a letter. He added that he would prefer to see uncertain investors exit.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;To shareholders who came looking for a bargain, I recommend exiting the business. This transition may be a moment of uncertainty for investors,&#8221; he stated.<\/p>\n<\/blockquote>\n<p>By &#8220;transition,&#8221; Bailey referred to the filing of an S3 registration form with the U.S. Securities and Exchange Commission (SEC) on September 12. During the company&#8217;s formation, some shares were sold at a discount, and investors who purchased them were prohibited from selling until the S3 form was submitted.<\/p>\n<p>It is likely that the SEC filing triggered the recent downturn. Although NAKA has been declining almost continuously since May, when the asset was at its peak.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Almost 80m shares have traded today. Once again I\u2019m humbled by the support and look forward to meeting all our new shareholders!<\/p>\n<p>Meeting with PIPE investors throughout the week as well. Most I\u2019ve known for many years and I expect to ride with us for the long term. Cannot\u2026<\/p>\n<p>\u2014 David Bailey\ud83c\uddf5\ud83c\uddf7 $1.0mm\/btc is the floor (@DavidFBailey) <a href=\"https:\/\/twitter.com\/DavidFBailey\/status\/1967639536147763405?ref_src=twsrc%5Etfw\">September 15, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Almost 80 million shares were sold today. I am once again humbled by such support and look forward to meeting all our new shareholders,&#8221; Bailey noted on X.<\/p>\n<\/blockquote>\n<p>The company&#8217;s CEO acknowledged the issue and stated that the only way to deal with it is to &#8220;go through it.&#8221;<\/p>\n<p>The firm <a href=\"https:\/\/forklog.com\/en\/news\/david-baileys-firm-secures-710-million-for-bitcoin-treasury-initiative\">emerged<\/a> from the merger of medical provider Kindly MD and bitcoin holding Nakamoto. Initially, it raised $710 million to create a bitcoin reserve.<\/p>\n<p>At its peak, Nakamoto was valued at more than 20 times the worth of its first cryptocurrency reserves. However, the <span data-descr=\"multiplier of value to net assets\" class=\"old_tooltip\">mNAV<\/span> has now fallen to 0.82.<\/p>\n<p>According to Nasdaq rules, if a company&#8217;s shares close below $1 for a month, it receives a warning and is given 180 days to rectify the situation. Otherwise, the asset will be delisted from the exchange.<\/p>\n<p>Earlier, JPMorgan <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-calls-sp-500s-rejection-of-strategy-a-blow-to-crypto-treasuries\">described<\/a> the exclusion of Strategy from the S&#038;P 500 as a &#8220;blow to crypto treasuries.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The shares of Nakamoto, formerly Kindly MD, have plummeted by 95% over three months\u2014from $35 to $1.3. The decline continued following the release of a controversial letter to investors.<\/p>\n","protected":false},"author":1,"featured_media":88960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Shares of Nakamoto, formerly Kindly MD, fell 95% from $35 to $1.3 in three months.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1641,1211],"class_list":["post-88959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"699","promo_type":"1","layout_type":"1","short_excerpt":"Shares of Nakamoto, formerly Kindly MD, fell 95% from $35 to $1.3 in three months.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88959"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88959\/revisions"}],"predecessor-version":[{"id":88961,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88959\/revisions\/88961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88960"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}