Bitcoin Treasury Company Nakamoto Plans Reverse Stock Split to Maintain Nasdaq Listing

Nakamoto (Nasdaq: NAKA), a Bitcoin treasury company promoted by David Bailey, accumulates Bitcoin on its corporate balance sheet. Nasdaq requires its common stock to maintain a closing price of at least $1 per share, and a prolonged breach of that threshold could lead to delisting. A reverse stock split has therefore become a key step in preserving the company's listing.

NAKA shares have plunged more than 99% from their 2025 peak and at one point were down nearly 67% in 2026. The company initially planned to seek shareholder authorization for a reverse stock split at a ratio ranging from 1-for-20 to 1-for-50, before adopting a 1-for-40 ratio that consolidates every 40 shares into one. The move can mechanically increase the quoted share price but does not raise the company's total market value or improve its fundamentals.