Nakamoto signs $107.3 million all-stock deal for BTC Inc and UTXO to scale Bitcoin media and treasury platform.
Nakamoto, a Bitcoin treasury company founded by entrepreneur David Bailey, announced the acquisition of BTC Inc. and UTXO Management in an all-stock transaction valued at more than $107 million, according to a company release.
The deal includes BTC Inc., which runs Bitcoin Magazine and The Bitcoin Conference, as well as UTXO Management, an investment firm that backs Bitcoin treasury companies. Shareholders will receive 363,589,816 shares on a fully diluted basis, the company said.
Bailey said the acquisitions align with Nakamoto’s strategy to operate a portfolio spanning media, asset management and advisory services. The transactions exercised prior call options, allowing Nakamoto to acquire BTC Inc. while BTC Inc. simultaneously acquired UTXO Management, according to the announcement.
Acquisitions generate recurring revenue for Nakamoto, diversifying the company’s operations beyond capital markets activities. Other Bitcoin treasury companies in the sector include Strategy, led by Michael Saylor, and Twenty One Capital.
Bailey indicated that Nakamoto has no plans to sell his Bitcoin holdings unless there is an extremely prolonged price decline, signaling a strategy of continued accumulation.
Industry analysts have noted a consolidation trend among Bitcoin treasury companies, with companies combining media, consulting and investment services to strengthen recurring revenue streams. Through acquisitions of BTC Inc.’s established brands and UTXO’s investment operations, Nakamoto aims to expand its institutional presence and operational scale, according to market observers.