Strategy loses its bitcoin premium as enterprise mNAV dips below 1
Jun 26 2026 21:20 UTC
Strategy's STRC briefly fell to a record low of $71.40 on Friday, leaving the preferred shares about 25% below par.
➤ Strategy's preferred shares (STRC) briefly traded 25% below par, indicating its enterprise market net asset value (mNAV) dipped below 1, a metric reflecting the company's overall capital structure value relative to its Bitcoin holdings.
➤ This decline is attributed to significant annual dividend obligations on preferred shares, which are pressuring the company's cash reserves and balance sheet.
➤ Several other companies employing similar Bitcoin treasury strategies, like Metaplanet and Nakamoto, are also trading below parity, highlighting a broader market challenge.
Read more at: https://rwatimes.io/articles/theblock-strategy-loses-its-bitcoin-premium-as-enterprise-m-nav-dips-below-1-3853873927?utm_source=binance
Jun 26 2026 21:20 UTC
Strategy's STRC briefly fell to a record low of $71.40 on Friday, leaving the preferred shares about 25% below par.
➤ Strategy's preferred shares (STRC) briefly traded 25% below par, indicating its enterprise market net asset value (mNAV) dipped below 1, a metric reflecting the company's overall capital structure value relative to its Bitcoin holdings.
➤ This decline is attributed to significant annual dividend obligations on preferred shares, which are pressuring the company's cash reserves and balance sheet.
➤ Several other companies employing similar Bitcoin treasury strategies, like Metaplanet and Nakamoto, are also trading below parity, highlighting a broader market challenge.
Read more at: https://rwatimes.io/articles/theblock-strategy-loses-its-bitcoin-premium-as-enterprise-m-nav-dips-below-1-3853873927?utm_source=binance