According to CoinDesk, Bitcoin-holding company Nakamoto owes Kraken approximately $165 million, an amount exceeding its total market capitalization. The report's summary notes that about 70% of the company's Bitcoin has been pledged as collateral to the exchange, citing an average acquisition price of roughly $118,000 per coin; Bitcoin was trading below $69,000 at the time of the report. The figures reflect the debt, holdings, and price data as of the reporting time, and the report did not state that the company has defaulted or that its collateralized assets have been liquidated.