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![CCNDotComNews Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1856523530.png) CCN [@CCNDotComNews](/creator/twitter/CCNDotComNews) on x 183.9K followers
Created: 2025-07-22 22:03:47 UTC

1/ First, what is mNAV?

It's Market cap ÷ Net Asset Value, showing how much the market pays above raw $BTC holdings.

mNAV > X = premium
mNAV < X = discount

$MSTR’s mNAV is still above X. But it's compressed from 3.4x to 1.9x since Nov 2024.

Why? 🧐


XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947779632536633554/c:line.svg)

**Related Topics**
[$mstrs](/topic/$mstrs)
[discount](/topic/discount)
[$btc](/topic/$btc)
[fund manager](/topic/fund-manager)
[market cap](/topic/market-cap)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)

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