Bitcoin (CRYPTO: BTC) has had its best month since 2025, driven by a short squeeze and U.S. Treasury buybacks of long-term securities. It's up 24% this month as of Aug. 28. This recent surge is welcome news for Bitcoin treasury companies, which carry significant amounts of Bitcoin on their balance sheets.
However, there's still skepticism surrounding these companies. Case in point: Strategy (NASDAQ: MSTR), the company that holds the most Bitcoin, has an mNAV (market valuation relative to the Bitcoin it holds) of 1.06, down from 3.89 in late 2024. It used to trade at a hefty premium to its Bitcoin holdings. Now, you only pay $1.06 for every $1 of Bitcoin it owns.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The low premium reflects less trust in the Bitcoin treasury model, and investors are right to be skeptical.
First, let's define what a Bitcoin treasury company is. Although many businesses own some Bitcoin, the term refers to companies whose primary purpose is to buy and hold the cryptocurrency. Tesla owns Bitcoin, but no one would call it a Bitcoin treasury company. Strategy, Twenty One Capital, and other companies that have adopted this approach focus entirely on Bitcoin accumulation.
#Companies
However, there's still skepticism surrounding these companies. Case in point: Strategy (NASDAQ: MSTR), the company that holds the most Bitcoin, has an mNAV (market valuation relative to the Bitcoin it holds) of 1.06, down from 3.89 in late 2024. It used to trade at a hefty premium to its Bitcoin holdings. Now, you only pay $1.06 for every $1 of Bitcoin it owns.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The low premium reflects less trust in the Bitcoin treasury model, and investors are right to be skeptical.
First, let's define what a Bitcoin treasury company is. Although many businesses own some Bitcoin, the term refers to companies whose primary purpose is to buy and hold the cryptocurrency. Tesla owns Bitcoin, but no one would call it a Bitcoin treasury company. Strategy, Twenty One Capital, and other companies that have adopted this approach focus entirely on Bitcoin accumulation.
#Companies
7 days ago
