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![AdamBLiv Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1881193918206758912.png) Adam Livingston [@AdamBLiv](/creator/twitter/AdamBLiv) on x 47.2K followers
Created: 2025-07-18 21:52:39 UTC

Snapshot foundation: 

Strategy controls XXXXXXX BTC worth $70.8B at $117,724/BTC.

Enterprise Value $131.0B; mNAV XXXX (EV / BTC NAV); 

Market Cap $119.3B; Debt $8.224B (12% of BTC NAV); 

Preferred $3.521B (5%); Open Interest $110.6B; 

Implied Vol 49%; 30D Vol 52%; 1Y Vol 94%; 

MSTR returns: 3M +33%, 1Y +172%, BSE +3,324%. 

A $60.2B premium (EV minus BTC NAV) already prices scarcity gateway + disciplined capital stack before full product monetization.


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1946327282613915867/c:line.svg)

**Related Topics**
[market cap](/topic/market-cap)
[$602b](/topic/$602b)
[$bsens](/topic/$bsens)
[3m](/topic/3m)
[mstr](/topic/mstr)
[$1106b](/topic/$1106b)
[$3521b](/topic/$3521b)
[$8224b](/topic/$8224b)

[Post Link](https://x.com/AdamBLiv/status/1946327282613915867)