Bitcoin24h $64,716.01+3.34%

Ethereum24h $1,876.70+5.25%

BNB24h $576.74+1.13%

XRP24h $1.11+3.57%

Solana24h $77.47+3.15%

TRON24h $0.3274+0.92%

Hyperliquid24h $67.23+5.68%

Dogecoin24h $0.0741+2.88%

Zcash24h $555.18+9.85%

UNUS SED LEO24h $9.80+2.65%

CHART: mNAV down across bitcoin treasury companies

The premium that investors are paying for BTC treasury companies continues to decline. In other words, mNAV compression is real.

CHART: Strategy’s BTC growth slows to multi-year low

Strategy has been adding BTC to its treasury at its slowest rate in five years. Worse, its mNAV is also falling.

Strategy common shares have fallen to a 19-month low multiple-to-Net Asset Value. The basic mNAV of MSTR is now just 1.21x.

Michael Saylor has been particularly optimistic about expanding STRC domestically and abroad, yet his STRC ATM sales to date are $0.

The IRS said that Strategy can disregard unrealized gains and losses on digital asset holdings when computing income subject to the 15% CAMT.