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Where’s the Kaboom? MSTR Model Update

  • Marty Kendall

Marty Kendall

21 Jan 2025 • 6 min read
Where’s the Kaboom?  MSTR Model Update

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Unpacking mNAV: Why BTC Yield Matters Most

Unpacking mNAV: Why BTC Yield Matters Most

With our upcoming rebrand to mNAV.com imminent, it’s a perfect moment to unpack the question everyone in the Bitcoin Treasury Company (BTC-TC) space is wrestling with: What really drives mNAV? The answer isn’t as complicated as it might seem. At its core, BTC Yield is the engine
11 Sep 2025 6 min read
The Lookback Edge: How Optimising Yield Windows Turned 5x into 59x

The Lookback Edge: How Optimising Yield Windows Turned 5x into 59x

Everyone agrees that BTC Yield — the change in bitcoin per share — is the ultimate scorecard for Bitcoin Treasury Companies (BTC-TCs). But what often goes unnoticed is how we measure it. The length of the lookback window — whether 30 days, 90 days, or a full year — can completely change the signal.
07 Sep 2025 7 min read
BTC-TCs After the Pullback: Where mNAV Meets Opportunity

BTC-TCs After the Pullback: Where mNAV Meets Opportunity

·         Bitcoin has cooled from ~$124k to ~$107k, but still sits just above its long-term power-law trend (57th percentile). ·         Our models (M2 + hash rate + S&P) point to a ~$122k as a current “fair value” for BTC vs. broader markets. ·         The June pivot aligned with a sharp ETH/BTC upswing;
31 Aug 2025 14 min read
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