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BTC The new mNAV formula aims to simplify
Strategy Inc. Major adjustments were made to its financial structure, after a year after the company suffered heavy losses on both equity and digital asset holdings. CEO Phong Le announced a streamlined version of the mNAV formula used to determine when companies can issue new shares. This revision is made against the backdrop of market pressures that have caused the company's valuation and its core Bitcoin strategy to fall sharply since January this year.
Strategy Inc. A fixed efficiency threshold of 1.0 times was set for the mNAV formula, while increasing the mNAV itself to 1.07 times. Phong Le emphasized that this adjustment "creates the simplest and most transparent trigger conditions for restarting the equity 'money printing machine'." By establishing easy-to-understand metrics, the company aims to reassure investors and the broader market that any future stock sales will directly boost the key metric-Bitcoin per Share (BPS), which currently stands at 0.0023 BTC.
Management said the changes are intended to boost investor confidence as the company's market value and debt instruments have fallen sharply. Since the beginning of the year, TradingView data shows that Strategy's stock performance has fallen in line with its core financial products. The adoption of fixed efficiency thresholds and clearer mNAV metrics is expected to bring greater transparency to investors and ensure that any equity issuance will increase stakeholders 'holdings of bitcoin per share.
MSTR will perform worse than Bitcoin in 2024
The past year has been particularly difficult for MSTR shareholders, whose shares fell the most on the one-year chart. MSTR shares have fallen 39.45%, wiping out all gains from a brief spring rebound and entering a long-term downtrend. In contrast, Bitcoin fell 26.43% against the US dollar over the same period. This means Strategy shares are devaluing much faster than the company's main underlying assets.
At the same time, the company's digital credit instruments (with a total market size of US$12.2 billion) have also entered negative territory. However, these instruments appear to show greater stability than the company's common stock.
Strategic Repurchase and Overall Market Reaction
Faced with poor performance, Strategy management allocated US$25 million to repurchase STRC preferred shares. The securities were repurchased at $86.52 per share, below their $100 face value, reflecting discounts in stressed markets.
Against the backdrop of evolving financial strategies, investors and market participants are looking for platforms that provide greater flexibility and efficiency. In response to the growing demand for innovative trading tools, some platforms are working to seamlessly connect traditional finance and the crypto space, allowing users to directly access stocks of major U.S. companies and commodities such as gold and silver through their wallets without the need for complex intermediaries. Its instantly updated pricing engine helps users efficiently trade leading stocks and diversify their investment portfolios at optimal prices.
The continued volatility of digital assets and related stocks has also prompted emerging financial platforms and instruments to pay more attention to transparency and risk management.
