Praey
5.6K posts

Praey
@C9Praey
$BTC $MSTR $STRC $ASST $SATA | On the journey to understand and witness the dawn of Digital Finance & Digital Credit. ₿





Latest Ragnar Comparison of BTC Treasury Companies – May 5, 2026: $MSTR, $MPJPY, $ASST Key takeaways: - The Bitcoin treasury flywheel of Strive has started to spin. - Now the only flywheel that is missing is Metaplanet's. - mNAVs have recovered substantially. ASST is now at 1.67x (Equity method), MSTR at 1.44x (Equity method). Metaplanet still in deep winter at 0.97x (Equity method). - Total amplification as high as 41.6% (Strive) - Healthy BTC Yield YTD (9.6% for MSTR and 39.3% for ASST) Change log: - Added USD Reserve (prefs) for companies holding prefs of other BTCTCs (e.g. Strive holding STRC) - Enterprise value is now more precise, considering the USD Reserve and USD Reserve (prefs) - Added the latest ASST purchase Notes: - I ignore potential additional cash on the balance sheet and only focus on the USD/fiat reserve - I currently don't account for $MPJPY's income generation business - Strive is using "Effective Diluted Shares" in their dashboard. I use the "Assumed Diluted Shares Outstanding" for all companies on my sheet to make them comparable and I would recommend that Strive adopts this practice My key objective is to maximize the BTC of my personal, virtual BTC Treasury company. That's why I denominate all my treasury company investments in BTC. Example: The relevant chart for Strategy is not MSTR/USD, but rather MSTR/BTC. My goal is to buy low, and sell high, on that chart. I also compare pairs, for example MPJPY/MSTR. If possible, always provide the source and/or detailed calculations when suggesting corrections. Link to spreadsheet: docs.google.com/spreadsheets/d… (use "File > Make a Copy" to download & edit) Follow me @RoaringRagnar to not miss any updates. Reposts/quotes/likes are highly appreciated. @ZynxBTC @adam3us @EneaDenkt @Bthemoon2030 @BTCtreasuries @HODL15Capital @Anders_ @AdamBLiv @Z06Z07 @PunterJeff @Werkman @ColeMacro @mikealfred @_Adrian @CJ_Bitcoin @BTCBULLRIDER





Use $MSTR as our guide to determine if the $BTC and crypto bottom is in. Historically, it front-runs Bitcoin. If $MSTR continues to hold the 126-127 zone as support then it is telling us that the $BTC bottom is in




Not quite a break out yet, but close. #Bitcoin








