Strategy has introduced a new market metrics framework designed to show common shareholders how much bitcoin value remains after accounting for the company’s preferred stock and convertible debt obligations. The largest corporate holder of bitcoin previously emphasized gross measures based mainly on the size of its BTC reserve. The updated framework uses net figures that deduct claims ranking ahead of common equity, giving investors a clearer view of the assets available to them after senior obligations are considered. The change arrives during a difficult period for both Strategy and bitcoin. Bitcoin is trading near ... (full story)