BBX: Nakamoto Holdings completes Bitcoin company transformation and Strive maintains mNAV above 1

BBX News: Yesterday, Nakamoto Holdings officially closed all medical clinics and completely transformed into a pure Bitcoin operating company. Its three business lines (BTC Inc. Media, UTXO Management Asset Management, Bitcoin Treasury) are all cryptocurrency native businesses. At the same time, against the backdrop of Strategy, Metaplanet, and Nakamoto's mNAV all falling below 1.0, Strike became the only Bitcoin Treasury listed company to still have a premium on Bitcoin holdings with an mNAV of approximately 1.24 during the same period. Its zero debt structure demonstrates unique balance sheet resilience in the current downturn cycle. Core points: ——Nakamoto Holdings (Nasdaq: $NAKA): Formally closes all medical clinics, and Kindly LLC terminates all patient services; CEO David Bailey announces comprehensive transformation of Bitcoin operating company; Three business lines: BTC Inc. (Bitcoin Magazine, Bitcoin Conference) UTXO Management、 Bitcoin Treasury; Received a delisting warning from NASDAQ in December 2025 (stock price below $1), and will comply again after executing a 1-to-40 reverse stock split on May 22, 2026; Q1 2026 net loss of $238.8 million (mainly due to non cash BTC impairment and merger and acquisition integration costs); The enterprise's mNAV is approximately 0.92. ——Strive Inc. (Nasdaq: $ASST): The current mNAV of the company is approximately 1.24, making it the only major Bitcoin treasury listed company during the same period to exceed 1.0; Zero debt operation, financed solely through ASST equity and SATA preferred stock (annualized 13%); SATA maintains a face value close to $100, in direct contrast to STRC's 25% discount of approximately $75; I have purchased over 19105 BTC this year; Last purchase: 759 pieces on June 22nd, with an average price of approximately $65850. Source: bbx.com