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Joe Burnett, MSBA
Joe Burnett, MSBA|Oct 15, 2025 13:00
The 2022 bitcoin bear market began when MSTR's mNAV dropped back to 1x. Now that many treasury companies are at or below 1x mNAV and MSTR's mNAV has been drifting lower since November 2024, does that mean the next bitcoin bear market is about to begin?(Joe Burnett, MSBA)
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