According to Bitcoin News, Nakamoto, the Bitcoin reserve company backed by David Bailey, owes Kraken $165 million, surpassing its $104 million market value. The company holds 4,283 BTC with an average purchase price of approximately $118,000 per coin.

Kraken has agreed to extend $60 million of repayment to December 2027, with the remaining $105 million due in June 2027. Nakamoto has pledged 3,030 BTC as collateral, currently valued at approximately $208 million.

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