Woofun AI reports that MicroStrategy’s market value to net asset value (mNAV) ratio has declined below the 1.0 threshold, following a drop in MSTR shares to $81.8 in after-hours trading. This metric compares the company's total market capitalization to the value of its Bitcoin treasury holdings.

Under its established policy, MicroStrategy will cease issuing new shares to fund Bitcoin purchases, as doing so would now dilute shareholder value. Instead, the company is expected to utilize available cash for share buybacks and increase the dividend rate on its STRC preferred stock. Other entities with similar strategies, including Metaplanet and Nakamoto, also trade at mNAV ratios below 1.