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Strategy’s Bitcoin Premium Turns Negative as mNAV Drops Below 1

Published by
Nidhi Kolhapur

Michael Saylor’s Strategy is now valued at less than the market value of the Bitcoin it holds, with its mNAV ratio falling below 1 for the first time in the current cycle. The company previously traded at a significant premium, helping fund additional Bitcoin purchases through share sales. Management has said issuing shares below roughly 1.22x mNAV destroys shareholder value, meaning Bitcoin acquisitions could slow unless the premium returns.

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Nidhi Kolhapur

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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