Why Bitcoin price rally ‘won’t bail out’ dying digital asset treasuries

Discounted Bitcoin treasuries are going to need a lot more than a 7% price rally from the world’s biggest crypto to stay above water, market watchers warn. The top crypto climbed to around $94,000 from $89,000 over the past few days. Yet treasuries’ mNAV ratios, or market-to-net-asset value — which refers to the difference between a company’s market capitalisation and their crypto holdings — is still depressed. Nearly 40% of the top 100 Bitcoin treasuries are trading below their net asset value, and th ...