Why MSTR Trades Below NAV in 2026: A Treasury Thesis

MSTR trades 75% below its November 2024 peak even as Strategy holds 818,334 BTC. The treasury company premium that defined four crypto years has compressed.

🔗 https://memedadacoin.com/blog/mstr-mnav-collapse-thesis

#bitcoin #marketstructure #institutional #treasurycompanies