Will Capital Markets Continue Funding MicroStrategy’s Bitcoin Experiment Without a Premium Cushion?
MicroStrategy (now Strategy) is in its most consequential part since adopting Bitcoin as its major treasury asset. The firm’s mNAV (microstrategic internet asset worth) premium has fallen to 1.04x, successfully erasing the valuation buffer that when powered its dramatic outperformance versus Bitcoin itself. The shift marks a regime change, with Strategy’s future now not hinging…
