Strategy Signals New Bitcoin Buy as mNAV Drops Below 1

Strategy, a Bitcoin treasury firm co-founded by Michael Saylor, has indicated it may be preparing to make new purchases of BTC. This comes as the company's market net asset value (mNAV) has dropped below 1, meaning its shares are trading at a discount.

The mNAV measures Strategy's share price relative to the value of its Bitcoin holdings, which currently sit at approximately $48.1 billion. The firm's average purchase cost is around $75,985 per BTC, according to SaylorTracker data, suggesting that market prices have fallen below Strategy's cost basis.

Strategy has continued to fund new purchases through debt and equity issuance despite the decline in mNAV figures seen across corporate Bitcoin treasury companies.