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  • What ‘mNAV’ Really Means for Bitcoin Treasury Companies — and Where It Falls Short
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What ‘mNAV’ Really Means for Bitcoin Treasury Companies — and Where It Falls Short

cryptovert December 1, 2025 1 min read
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.

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