How to Value Bitcoin Treasury Companies
summary
Concrete valuation hinges on MNAV, Bitcoin per share and BTC yield rather than slogans: Smarter Webco IPOs in April, raises ~£200M and briefly hits MNAV ~14x; Strive completes a $750M reverse merger with no debt and tests perpetual preferred equity as financing; about 300 public companies hold BTC and ~20 run accretive playbooks; custody + short-term lending (Kraken-style) is used to hit ATMs and boost NAV, so focus on MNAV, Bitcoin per share, BTC yield.
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chapters (11)
- 0:00Start
- 1:15Meet the Panel: Company Overviews
- 4:00Bitcoin Treasury Strategies
- 7:00KPIs for Bitcoin Treasury Companies
- 11:00The Role of Service Providers
- 13:30Valuing Bitcoin Treasury Companies
- 16:00Risk Management & Shareholder Value
- 19:00Brand Value & Market Leadership
- 20:00Bitcoin vs Alternatives: Asset Discussion
- 20:45Final Thoughts & Takeaways
- 21:00Outro & Music
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