mNAV has become the go-to valuation shorthand for bitcoin treasury stocks — but a growing number of analysts are warning it oversimplifies the story. The rise of mNAV in bitcoin
BTC Treasuries Theme Month
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Liquidation calls from the sidelines are growing louder for Strategy (MSTR) as bitcoin tumbles and the company’s common stock has plunged nearly 70% from last year’s peak, calling into question
Digital asset treasuries (DATs) were among the most visible corporate phenomena of the last bull cycle. Built on the premise that holding bitcoin BTC$84,765.11 on the balance sheet was itself
The great corporate bitcoin land grab of the summer has substantially cooled, and the latest batch of digital-asset treasury (DAT) stocks is showing the hangover. Many of the once-hot bitcoin
Earlier this year, at Hong Kong’s Bitcoin Asia, there was a growing sense of frustration with Digital Asset Treasury (DAT) companies and their lagging performance against the asset they fill
One year ago, Strategy (MSTR), the software company that became a pioneer in buying bitcoin BTC$81,978.95 as corporate treasury asset, hit a record high and bitcoin, the largest cryptocurrency, was
In the summer of 2020, Michael Saylor — then-CEO of what was, at the time, called MicroStrategy (MSTR) — made a decision that would upend the financial strategy of his
