Blockchains Manager

What mNAV Really Tells You About Bitcoin Treasury Companies — and Where It Falls Short

BySLM NFFT

Nov 30, 2025
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.

By SLM NFFT

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