Why Owning Just 3–7% of Bitcoin Could Be the Ultimate Power Move According to Michael Saylor—Are You Ready to Seize It?
However, the ongoing sale of stocks to raise capital has led to share dilution amid a drop in mNAV (modified net asset value), an indicator that tracks the market value of a firm relative to its BTC holdings.
To prevent further dilution, Strategy said that it will only sell MSTR shares when the mNAV is above 2.5x. VanEck’s Matthew Sigel hailed the move as ‘best in class’ for MSTR treasury management.
Source: Excerpt from Strategy’s earnings report
At press time, the mNAV was at 1.62x, down from the record level of 3.89x hit last November.
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