Strive Asset Management acquires Semler Scientific in an all-stock deal, marking the first merger of bitcoin treasury companies. The combined company now controls over 10,900 BTC, increasing net asset value per share. NYDIG argues that the commonly used “mNAV” metric, which measures market cap divided by crypto held, should be removed from industry reporting as it fails to account for operating businesses or convertible debt. Publicly traded bitcoin treasury firms hold over 1 million BTC and many are trading below their mNAV, potentially signaling more acquisitions on the horizon.

Read more at Yahoo Finance: NYDIG Calls for Bitcoin Treasury Companies to Drop ‘Misleading’ mNAV Metric