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.
from CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data https://ift.tt/oFuVXEn
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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
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