A tsunami again bitcoin
Cash companies – companies that are almost exclusively of Bitcoin accumulation – floods the market.
Since everyone is more or less according to the strategy game book (MSTR), the questions increase the best ways to appreciate them and compare them to each other.
“The most important metric for a Bitcoin treasure is the premium it is negotiating compared to its underlying net assets, including any operating company,” wrote Greg Cipolaro, world manager for the research of Bitcoin Financial Nydig, in a report on June 6.
On the surface, this means adding bitcoin, cash and the value of the company’s company excluding Bitcoin stuff, and subtracting obligations such as debt and privileged actions. “It is this premium that allows these companies to convert actions for bitcoins, acting effectively as a money changer converting actions for bitcoins,” said Cipolaro.
One of the most popular measures, MNAV, measures the assessment of a company at its net asset value – in these cases, their Bitcoin vouchers. A MNAV above 1.0 indicates that investors wish to pay a bonus for exposure to stock compared to its Bitcoin hiding place; However, a MNAV less than 1.0 means that equity are now worth less than the company’s assets.
But the MNAV alone is “terribly deficient” to analyze the strengths and weaknesses of these companies, said Cipolaro. The research report used other measures such as NAV, MNAV measured by market capitalization, MNAV by business value and capital premium to NAV to provide a more complex image.
The table shows, for example, that the equity premium to semler scientific (SMLR) and Trump Media (DJT) at NAV (which measures the difference as a percentage between the market price of a fund and its net asset value), are the lowest of the eight measured companies, reaching 120% and -16% respectively, despite the fact that the two measured companies have a MNAV.
Unfortunately, SMLR and DJT are little changed on Monday even when Bitcoin climbs to $ 108,500 from $ 105,000 on Friday evening. The MSTR is 5%higher.
