Michael Saylor’s Bitcoin Strategy Nears 'Danger Zone' as mNAV Approaches 1

Michael Saylor’s strategy has seen its market net asset value (mNAV) hover around 1.0 as the stock has slid 66% since July, raising concerns that mNAV could slip below 1 and prompting investors to consider whether direct Bitcoin holdings offer cheaper exposure.

The firm currently holds 672,497 BTC and has raised $747.8 million through ATM sales. Management says the cash on hand would cover about 21 months of payouts.

Bitcoin has recently traded near $90,000, a backdrop to the pressure on the strategy’s mNAV.

Key Topics

Crypto, Bitcoin, Mnav, Microstrategy, Atm Sales, Stock Slide