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![80IQmindset Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1195374544044875777.png) Cris 知能指数80 [@80IQmindset](/creator/twitter/80IQmindset) on x 24.2K followers
Created: 2025-07-13 01:00:23 UTC

This was the top tick of the summer run in 2024. 

CmNAV at the time was around XX.

Fast forward to today and CmNAV is about to be XXX or less assuming potential “future market activities” if you will. 

80%+ destruction of mNAV. 

Devastation. 

They were right about mNAV compression and you get rekt in mNAV terms. 

You should’ve listened to the experts.

But wait there’s more…

Share price in yen is now 1500+ (after the “devastating” pullback recently) 

So share price has done a 5x since then, outpacing bitcoin and MSTR.  Painful for me because I was max long MSTR back then and had X exposure to MTPLF / 3350.T until April this year heavy mostly around 400Y equivalent. 

TLDR 

If the company operates a breakneck pace and the market is discounting their ability to do so, that’s the arbitrage. 

The market hates putting a fair future value on $MTPLF and has for a while.

But I did and many others before me who have a much lower cost basis than me - sub 100Y (I know them because I talk to several Japanese investors / investors their X threads).


XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1944200200072970569/c:line.svg)

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[Post Link](https://x.com/80IQmindset/status/1944200200072970569)