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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: 2025-07-22 14:46:15 UTC

The power of Bitcoin per share growth at a 2x mNAV vs. a 3x mNAV:

Both start at 200m shares, both dilute the same, X% new shares each month, BTC price held flat at $XXXXXXX.

Company A - 2× mNAV (8% BTC growth/mo)

Start: XXXXX BTC

1: XXXXX  (+80)
2: XXXXXXXX  (+86.40)
3: XXXXXXXX  (+93.31)
4: XXXXXXXX  (+100.78)
5: XXXXXXXX  (+108.84)
6: XXXXXXXX  (+117.55)
7: XXXXXXXX  (+126.95)
8: XXXXXXXX  (+137.11)
9: XXXXXXXX  (+148.07)
10: XXXXXXXX  (+159.92)
11: XXXXXXXX  (+172.71)
12: XXXXXXXX  (+186.53)

End sats/share = XXX (from 500) → +57%

Company B - 3× mNAV (12% BTC growth/mo)

Start: XXXXX BTC

1: XXXXXXXX  (+120.00)
2: XXXXXXXX  (+134.40)
3: XXXXXXXX  (+150.53)
4: XXXXXXXX  (+168.59)
5: XXXXXXXX  (+188.82)
6: XXXXXXXX  (+211.48)
7: XXXXXXXX  (+236.86)
8: XXXXXXXX  (+265.28)
9: XXXXXXXX  (+297.12)
10: XXXXXXXX  (+332.77)
11: XXXXXXXX  (+372.70)
12: XXXXXXXX  (+417.43)

End sats/share = XXXXX (from 500) → +143%


XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947669527480721879/c:line.svg)

**Related Topics**
[stocks](/topic/stocks)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)
[coins pow](/topic/coins-pow)

[Post Link](https://x.com/AdamBLiv/status/1947669527480721879)