Bitcoin24h $68,038.48-3.36%

Ethereum24h $1,978.21-4.39%

BNB24h $628.01-2.62%

XRP24h $1.37-2.13%

Solana24h $84.45-3.81%

TRON24h $0.2838-0.76%

Dogecoin24h $0.0907-2.92%

Cardano24h $0.2591-3.50%

Bitcoin Cash24h $449.20-1.85%

UNUS SED LEO24h $9.06+0.05%

Strategy’s bitcoin premium vanishes as mNAV crashes to 1x

The colloquial metric of investor confidence in Strategy, its multiple-to-Net Asset Value or mNAV, has fallen to 1x its BTC holdings.

CHART: Two years of Strategy investment narratives

Over the past two years, the dominant narratives that investors tell about BTC company Strategy have changed over a dozen times.

Michael Saylor thinks that an upcoming quantum hard fork could reduce the supply of BTC from 21M to as low as 16M.

Michael Saylor’s latest tweet about hard forking BTC for quantum security has his followers hoping it’s AI slop.

As Strategy’s stock price continues to slide, online sleuths noticed that the company spent $27M on a “deposit” for a new corporate jet.