What ‘mNAV’ Really Means for Bitcoin Treasury Companies — and Where It Falls Short

NYDIG’s research head questions how mNAV is used to assess bitcoin treasuries, arguing it masks key risks tied to capital structure and equity dilution.

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  • bitcoinBitcoin (BTC) $ 93,299.00
  • ethereumEthereum (ETH) $ 3,191.79
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.19
  • bnbBNB (BNB) $ 912.81
  • solanaWrapped SOL (SOL) $ 144.11
  • usd-coinUSDC (USDC) $ 0.999801
  • staked-etherLido Staked Ether (STETH) $ 3,189.73
  • tronTRON (TRX) $ 0.280114
  • dogecoinDogecoin (DOGE) $ 0.150886