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

coindesk.com/business/2025/11/30/what-mnav-really-tells-you-about-bitcoin-treasury-companies-and-where-it-falls-short

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.
What to know:
- mNAV compares a firm’s market…

This story appeared on coindesk.com, 2025-11-30 21:45:45.
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