What exactly is a Bitcoin treasury company? A single chart to understand mNAV and the discount trap
Recently, crypto.news published a super useful article explaining "Bitcoin Treasury Companies" (DATs) and the mNAV indicator 📊
In simple terms, DATs are those publicly traded companies that hold Bitcoin as their primary asset in their treasury. The most famous example is Strategy (formerly MicroStrategy), which holds over 840,000 BTC, making it the largest corporate holder globally 🥇
So, what is mNAV? It’s "Company Market Cap ÷ the value of Bitcoin it holds." If mNAV > 1, it means the market is willing to pay a premium; if mNAV < 1, the stock is trading at a discount.
But be careful ⚠️ Even if the stock is cheaper than Bitcoin, you can’t just withdraw the BTC from the company’s treasury—this is why discounts often persist.
Want to learn how to interpret this data and assess investment value? The original article explains it clearly 👇
#BTC #Bitcoin #MicroStrategy #mNAV
#BTC
Recently, crypto.news published a super useful article explaining "Bitcoin Treasury Companies" (DATs) and the mNAV indicator 📊
In simple terms, DATs are those publicly traded companies that hold Bitcoin as their primary asset in their treasury. The most famous example is Strategy (formerly MicroStrategy), which holds over 840,000 BTC, making it the largest corporate holder globally 🥇
So, what is mNAV? It’s "Company Market Cap ÷ the value of Bitcoin it holds." If mNAV > 1, it means the market is willing to pay a premium; if mNAV < 1, the stock is trading at a discount.
But be careful ⚠️ Even if the stock is cheaper than Bitcoin, you can’t just withdraw the BTC from the company’s treasury—this is why discounts often persist.
Want to learn how to interpret this data and assess investment value? The original article explains it clearly 👇
#BTC #Bitcoin #MicroStrategy #mNAV
#BTC