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![m0xt_ Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::768800976182452224.png) m0xt [@m0xt_](/creator/twitter/m0xt_) on x 1346 followers
Created: 2025-07-10 12:17:33 UTC

We say that the traditional stock market is quite efficient.

But is it, really?

The median premium for these digital asset treasuries is 2.6x.

How do you underwrite these assets?

I guess it comes down to the team's ability to grow NAV per share.

And as with any industry, I expect excess returns to attract competition, which naturally drives down both returns and the premium.

![](https://pbs.twimg.com/media/GvfqbtNXAAA0Wru.png)

XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1943283448526909572/c:line.svg)

**Related Topics**
[stocks](/topic/stocks)
[alternative investment](/topic/alternative-investment)

[Post Link](https://x.com/m0xt_/status/1943283448526909572)