BTC Price (Live)
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CoinGecko
MSTR Price
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Current mNAV (EV)
strategy.com method
BTC Treasury Value
Holdings x BTC Price
Scenario Parameters
Bitcoin Price
$
mNAV Multiple
x
Bitcoin on Balance Sheet
Implied MSTR Share Price — Enterprise Value Method
$--
( mNAV x BTC Value - Debt - Preferred + Cash ) / Basic Shares
BTC Treasury Value
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Implied EV
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Implied Mkt Cap
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BTC / Basic Share
Convert Note Status vs Implied Price
Convert Tranche Analysis — vs --
| Maturity | Conv. Price | Notional ($M) | Shares (000s) | Status |
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EV method carries convert principal as debt regardless of ITM/OTM status.
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Advanced Capital Structure Settings
Basic Shares (000s)
⚠ Verify at strategy.com/shares
Convert Debt ($M)
Verify at strategy.com/debt
Preferred Obligations ($M)
⚠ STRC issued weekly — verify strategy.com/shares
Cash ($M)
From latest 10-Q
Manual MSTR Price ($)
Override if auto-fetch fails
Enterprise Value Method — strategy.com's published mNAV.
EV = (MSTR price x basic shares) + convert debt + preferred obligations - cash. mNAV = EV / BTC treasury value. Preferred (STRC/STRK/STRF/STRD) changes frequently — update Advanced Settings from strategy.com/shares when needed. Live mNAV = ( MSTR_px x Basic_Shares + Debt + Preferred - Cash ) / ( BTC_held x BTC_px ) Impl. Price = ( mNAV x BTC_value - Debt - Preferred + Cash ) / Basic_Shares
EV = (MSTR price x basic shares) + convert debt + preferred obligations - cash. mNAV = EV / BTC treasury value. Preferred (STRC/STRK/STRF/STRD) changes frequently — update Advanced Settings from strategy.com/shares when needed. Live mNAV = ( MSTR_px x Basic_Shares + Debt + Preferred - Cash ) / ( BTC_held x BTC_px ) Impl. Price = ( mNAV x BTC_value - Debt - Preferred + Cash ) / Basic_Shares