MicroStrategy Soars 14% on Strong mNAV Performance

MicroStrategy's stock surged by 14% on August 19, 2026, outperforming Bitcoin's 6.11% increase as the company's modified net asset value (mNAV) reached 1.05 times. This marks a significant rise from nearly 1.00x and brings a modest premium back to MicroStrategy's net Bitcoin holdings.

The increased mNAV comes despite the company offloading 6.59 million shares on August 9, generating $653.1 million in revenue. The dollar reserve currently stands at $4.8 billion, representing roughly 2.8 years of interest payments and preferred dividends.

MicroStrategy's market value rose by $5.17 billion, with total reserves increasing by $3.594 billion. This means investors paid about $1.44 in new equity market capitalisation for every $1 of reserve growth.