Michael Saylor's MSTR stock premium is justified due to historical track record with Bitcoin

From Cointelegraph
June 22, 2025 01:59:00 AM:

Blockstream CEO Adam Back believes that Michael Saylor’s Strategy (MSTR) stock premium is justified due to the firm’s historical track record of reducing risk exposure for investors by doubling its Bitcoin per share in about 16-18 months. Currently, MSTR’s net asset value premium is around 1.7x based on basic shares and 1.9x on a diluted share basis.

At the time of publication, Strategy holds 592,100 Bitcoin, valued at approximately $60.89 billion. Despite MSTR’s 7.45% decline over the past month, Back emphasizes the importance of evaluating the premium’s reasonableness and the time it takes to overcome it when investing in Bitcoin treasury companies.

While significant fluctuations in market net asset value (mNAV) can be nerve-wracking, Back notes that Japanese investment firm Metaplanet has managed to recover from volatility in the past. Metaplanet recently surpassed Coinbase as the seventh-largest publicly traded company with a Bitcoin treasury after acquiring 1,112 Bitcoin on June 16.

Read more at Cointelegraph: Saylor’s Strategy Premium Not ‘Unreasonable’