>115.4%
17.7%
<169.2%
depends (please comment)7.7%
13 votes \ poll ended
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36 sats \ 2 replies \ @DarthCoin 2 Nov
this is fiat porn, nothing to do with Bitcoin.
I'll pass.
btw JImmy, where is that energy of "FIAT DELENDA EST" ? Or was all just a psyop?
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17 sats \ 1 reply \ @siggy47 2 Nov
Darth, could it be that the purpose of the poll is to point out that the correct answer is <1, meaning that the act of exposing bitcoin to the fiat world of finance immediately makes holding that bitcoin indirectly less valuable than holding it in self custody? The reasons would be the usual- risk of seizure, rehypothetication, etc.
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36 sats \ 0 replies \ @DarthCoin 2 Nov
No. Even the idea of playing around with these crooks puts you in the situation of "you play with shit... you smell like shit".
Especially from somebody that even wrote a book about the evil that comes from fiat LOL.
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48 sats \ 0 replies \ @justin_shocknet 2 Nov
<1 because equity holders aren't first priority in a liquidation, creditors get paid first, an mNAV of 1 doesn't mean your equity is 1:1
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0 sats \ 0 replies \ @BlokchainB 2 Nov
If you believe that markets are efficient then it should be 1
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0 sats \ 0 replies \ @bitcoingraffiti 2 Nov
> 1 when btc/share is growing over time
at least for microstrategy, it depends on the company how much of their business is in bitcoin treasury and how their other financials are doing.
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0 sats \ 0 replies \ @grayruby 2 Nov
In most cases sub 1 but I can be compelled that the things MSTR can do to raise capital very cheaply means it should trade for slightly more than NAV but eventually that should fall to 1 as well.
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0 sats \ 0 replies \ @denlillaapan 2 Nov
Below 1; management/custody discount warranted, just like we've known in corporate finance re: conglomerates for decades.
NOT a good idea when the underlying asset is so easy to acquire/custody
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0 sats \ 0 replies \ @SimpleStacker 2 Nov
I guess the easy answer is that it depends. Companies with good management that people believe will utilize their holdings in some productive manner could attract a mNav>1, and vice versa.
But since the question is what is "natural", it'd have to be 1, right?
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