Nakamoto just sold 284 $BTC for ~$20M.

That’s roughly 5% of its bitcoin holdings gone — not because the thesis changed, but because liquidity matters.

This is the reality of bitcoin treasury companies:
They can preach accumulation, but debt, operations, and cash flow can still force selling.

The BTC thesis is one thing.

Surviving the balance sheet is another.

#Bitcoin #CryptoNews #Nakamoto #DavidBailey