🔥BRUTAL: A Bitcoin treasury company backed by one of Trump's closest crypto allies has COLLAPSED 99% from its peak. David Bailey raised roughly $760 MILLION for Nakamoto to accumulate Bitcoin. Now the model has broken down. NAKA trades below the value of its Bitcoin holdings, making it much harder to issue shares to buy more BTC. The company has since: - Posted roughly $372M in losses in H1 2026 - Sold $20M of Bitcoin at a loss to fund operations - Executed a 1-for-40 reverse stock split - Shifted toward buying cash-generating businesses - Prioritized buying back its own shares over buying more Bitcoin Bailey summed up the problem himself: “We bought Bitcoin at the top, and then Bitcoin performed very poorly.”(Coin Bureau)