I keep seeing people try to predict what the MSTR premium over NAV “should” be, as a valuation question.
However, the answer doesn’t truly exist, because it’s recursive. The current state of ...
Which is likely part of any longer cycle. If price appreciation makes their realizable BTC yield lower over time, you probably also get to an equilibrium level which might be closer to 1.2-1.5
Until $1M or higher BTC I think 2-4x premium becomes the range that trades with overall market sentiment
Until $1M or higher BTC I think 2-4x premium becomes the range that trades with overall market sentiment