Is MicroStrategy’s mNAV Premium Gone for Good?
MicroStrategy’s market premium over its Bitcoin holdings has narrowed to close parity, elevating questions on the way forward for Michael Saylor’s levered Bitcoin mannequin. The newest disclosures present the corporate holding 649,870 BTC at a price of roughly $48.4 billion, but its fairness now not trades on the high multiples that powered earlier growth. A…
