NYDIG's Greg Cipolaro Criticizes mNAV Metric for Crypto Treasury Firms

According to BlockBeats, Greg Cipolaro, the Global Head of Research at NYDIG, has called for the removal of the 'mNAV' metric from industry reports evaluating crypto treasury companies. Cipolaro argues that the market value to net asset value ratio can be misleading as it fails to account for the operational activities or other assets and liabilities that these companies might possess. He highlighted that the calculation of mNAV often relies on 'assumed circulating shares,' which may overlook potential convertible debt that has not yet been converted. source: https://www.binance.com/en/square/post/30297095030554?utm_source=BinanceNewsRSS