-
Bitcoin's slumping again. The biggest corporate owner admits it may have to sell if things get worse
The top executive at bitcoin's biggest corporate owner has laid out the parameters that would force his company to sell some of its $56 billion worth of the cryptocurrency. Phong Le, CEO of Strategy (MSTR), said bitcoin would be sold if if the company's multiple to net asset value (mNAV) - a valuation metric that divides the company's market capitalization by the market value of the Bitcoin it holds - fell below 1. "So now, as we're looking at bitcoin winter, as we see our mNAV compressing, my hope is our mNAV doesn't go below one. But if we did and we didn't have other access to capital, we would sell ... (full story)