What’s the mNAV looking like at different share prices currently?
					by Larry Chiang on May 12, 2025
				 
				
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| @saylor @DavidFBailey $KDLY UTXO management is like treasury-squared 1) $KDLY raises with converts/ATMs uplift from their own mNAV premium 2) $KDLY invests: private placement, PIPEs, converts, stock of treasury cos which invest in BTC increasing their BTC/share. $KDLY increases indirect btc/share^2 |  
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| 5/12/25, 7:12 AM |  |  | 
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