-
Strategy’s Bitcoin Premium Hits 33-Month Low as mNAV Drops to 1x
Strategy’s valuation premium over its Bitcoin (BTC) holdings disappeared this week, as its enterprise value-to-BTC ratio dropped to 1x, its lowest level since March 2023, while its common stock (MSTR) declined sharply and investor appetite for its securities weakened further, based on data disclosed by the company. Strategy’s stock price dropped to $158.45 during Nasdaq’s morning session, pushing its enterprise value below $63 billion. At the same time, its BTC holdings were valued at roughly $62 billion, putting its enterprise value-to-BTC ratio at 1x. This metric, known as mNAV, dropped within one-hundredth ... (full story)