Catenaa, Tuesday, February 24, 2026-Nakamoto, the bitcoin treasury firm founded by entrepreneur David Bailey, has agreed to acquire BTC Inc., operator of Bitcoin Magazine and The Bitcoin Conference, along with UTXO Management, an investment firm backing other bitcoin treasury companies.
The all-stock deal values the combined assets at over $107 million, with shareholders receiving 363,589,816 shares of NAKA on a fully diluted basis.
Bailey said the acquisitions align with Nakamoto’s long-term vision to operate a portfolio spanning media, asset management, and advisory services, scaling alongside Bitcoin’s growth.
The transactions exercised prior call options, allowing Nakamoto to acquire BTC Inc. while BTC Inc. concurrently acquired UTXO Management.
NAKA shares traded near $0.30 at publication, after opening higher at $0.32.
The acquisitions provide recurring revenue for Nakamoto, diversifying beyond capital markets operations dominated by bitcoin treasury companies such as Michael Saylor’s Strategy and Twenty One Capital.
Bailey emphasized that Nakamoto has no plans to sell its bitcoin holdings, except under extreme prolonged price declines, indicating a continued commitment to accumulation.
Analysts say the move reflects a broader consolidation trend among bitcoin treasury companies, with firms combining media, advisory, and investment services to strengthen recurring revenue streams.
By incorporating BTC Inc.’s established brands and UTXO’s investment expertise, Nakamoto aims to become a leading institutional-facing bitcoin company, enhancing both market visibility and operational scale.
