NAV Multiplier vs BTC Price - Prediction graph

[ronenz.ronenz]

The graph 'NAV Multiplier vs BTC Price' uses historical NAV based on the holdings of btc. so when you try to look at past multiplier you cannot actually know what the price would be if we have current treasury btc holding that is way more than past performance

[radu]

Hi Ronenz,

It does use historical mNAV is true.

I don't see how you could use the current holdings for all previous data points, because you still need to take the historical market cap into account?

[Cole Tenold]

@ronenz.ronenz You are correct - the trend lines are based on the BTC per share today, and do not account for changes due to increased share count, or additional BTC acquisition.

It's a simplified model meant to answer the questions:

• If Bitcoin went to $X with today's BTC/ share and mNAV, what would we expect the price of MSTR to be?
• What is the correlation between mNAV and BTC price?