What mNAV Really Tells You About 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.
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.
The company adopted a bitcoin treasury plan by deploying a strategy inspired by Metaplanet, with 66% shareholder approval, to mitigate negative returns from government bonds.
The executive chairman of bitcoin treasury firm Strategy teased a switch from orange dots to green dots in what’s become his routine cheeky Sunday X post.
The digital asset landscape has matured significantly over the past several years. Simple spot holding is no longer the only viable strategy for generating substantial returns. Today’s market rewards precision, algorithmic discipline, and above all else, liquidity. For skilled traders, the barrier to entry is rarely knowledge. Instead, it is
S&P Global last Wednesday slashed its rating on Tether’s USDT stablecoin to its weakest score.
A sharp market pullback has exposed which BTC-focused public companies can actually execute, and which were never built for volatility.
The goal of the upgrade is to enable Ethereum to handle the large transaction throughput from the layer-2 chains that use the blockchain as their base layer.
Bitcoin’s big buyers seem to have stepped off the gas. For the better part of the last year or so, it felt like there was a constant tailwind behind Bitcoin’s price. ETFs vacuumed up coins, stablecoin balances kept climbing, and traders were willing to go to insane levels of leverage
A privacy coin is headed for Wall Street, and the wrapper says everything about what happens when a technology built for discretion tries to move through the most surveilled pipes in global finance. Grayscale’s bid to list a Zcash ETF on NYSE Arca (ticker ZCSH) marks the first serious attempt
The firm’s US-listed spot bitcoin ETF IBIT, launched in January 2024, reached $70 billion in assets in record time and has generated hundreds of millions in fees.