NYDIG: Cryptocurrency Custody (DAT) Company Evaluation Metric mNAV Is Misleading

BlockBeats News, September 28th, NYDIG Global Head of Research Greg Cipolaro stated that the metric commonly used to assess Digital Asset Treasury (DAT) companies, "mNAV" (Market Value to Net Asset Value ratio), should be completely removed from industry reports as it could be misleading. mNAV does not take into account a treasury company's operating business or other assets and liabilities it may hold. The calculation of mNAV usually involves using "assumed circulating supply," which fails to cover potential unconverted convertible debt.