Strategy Valuation Drop Threatens Key Bitcoin Funding Engine

Bitcoin’s largest corporate buyer, bitcoin treasury company Strategy , saw a valuation metric drop below a key threshold Friday (June 26), Bloomberg reported Friday. The ratio of the company’s enterprise value to its bitcoin holdings, or mNAV, fell below parity, meaning that its financing advantage is gone, according to the report. This occurred after seven months of Strategy’s market value trading below the value of its bitcoin holdings, and after the company’s shares dropped more than 80% from