Bitcoin treasury firm Nakamoto has announced a 1-for-40 reverse stock split to elevate its share price above $1, aiming to comply with Nasdaq's listing standards. The company's stock had previously fallen by approximately 99% from its peak. This reverse split will consolidate every 40 existing shares into one, significantly reducing the total number of outstanding shares. Nakamoto, which primarily holds Bitcoin as a core asset, has yet to specify the effective date for this change, pending approval from its board and shareholders.