NOTE: This article presents the author’s perspective on the likely structure and future implications of Nakamoto’s strategy. It is a forward-looking analysis, not a statement from Nakamoto or its employees. Until the proposed merger closes, Nakamoto’s strategic execution remains subject to change. The analysis reflects public materials, early actions, and directional signals observed to date.

Introduction: From Treasury Strategy to Global Bitcoin Refinery

The Nakamoto strategy offers a new framework for capital formation in the age of Bitcoin. Rather than viewing Bitcoin solely as a reserve asset, Nakamoto is pursuing an approach that uses Bitcoin as a foundation for…

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