mNAV=Market capitalization of stocks / Market capitalization of Bitcoin held

Theoretically, it should be that stocks rise and Bitcoin falls

I checked the charts for MSTR and BTC

I found that in the two years from the peak in 2021 to the middle of 2024

MSTR's performance is weaker than BTC's

In 2024, the market started to show significant strength before it spiraled up

Theoretically, as long as MSTR is stronger than BTC, that's fine

But looking at the current trend, it seems that MSTR is returning to reasonable value

So MicroStrategy is very likely this bear market's thunder? $BTC $ETH

ETHUSDT

Perp

3,375.88

+8.32%

BTCUSDT

Perp

93,735.4

+3.83%