David Bailey’s Nakamoto bitcoin treasury announces 1-for-40 reverse split as shares hit new lows
The Block·
60-second summary
Nakamoto's bitcoin treasury announces a 1-for-40 reverse split as shares hit new lows, shrinking outstanding shares to approximately 17.4 million from about 696 million, following a significant 99.5% price drop. This drastic measure aims to boost the stock's value, but its impact remains uncertain amidst the struggling cryptocurrency market and ongoing investor concerns.
Nakamoto’s reverse split will shrink outstanding shares to about 17.4 million from roughly 696 million, following a 99.5% price drop.