The more mnav, the more bitcoin nav, the better.
Always ₿e Stacking
mNAV represents a multiple of Bitcoin NAV, calculated by dividing Enterprise Value by Bitcoin NAV. Although it incorporates the label “NAV,” it is not equivalent to “net asset value” or “NAV” or any similar metric in the traditional financial context. Additionally, it is not a measure of the amount by which our Enterprise Value exceeds net asset value in the traditional financial sense of that term. Investors should rely on the financial statements and other disclosures contained in our SEC filings. This metric is merely a supplement, not a substitute. It should be used only by sophisticated investors who understand its limited purpose and many limitations.
Bitcoin NAV represents the market value of our bitcoin holdings calculated by multiplying Bitcoin Price and Bitcoin Count. It does not take into account or include our indebtedness or the liquidation value of our perpetual preferred stock. As such, it is not equivalent to “net asset value” or “NAV” or any similar metric in the traditional financial context. Although it incorporates the label “NAV,” it is not a measure of either our asset value or the value of the bitcoin we hold net of Debt, Pref and other obligations. Moreover, Bitcoin NAV is not comparable to either net asset value or NAV metrics that may be reported by other companies, including ETFs, ETPs and mutual funds. Investors should rely on our financial statements and other disclosures contained in the our SEC filings. This metric is merely a supplement, not a substitute. It should be used only by sophisticated investors who understand its limited purpose and many limitations.