Nakamoto, a newly public Bitcoin treasury company listed on Nasdaq under the ticker $KDLY, has experienced a dramatic surge in its stock price, rising nearly 700% in pre-market trading. The company is valued at over $10 billion, despite only 1.2% of its shares being floated publicly, which corresponds to a market capitalization of approximately $125 million. The stock is currently trading at 11.1 times the net asset value (NAV) relative to its planned Bitcoin holdings, with a market cap of $95 million and a planned capital deployment of $710 million into Bitcoin.