MSTR's premium is hovering near the 1x mNAV mark right now.

With roughly $1.5 billion sitting in their cash reserves, they've got enough cushion to ride out market turbulence. No forced BTC liquidation on the horizon—at least not from a liquidity crunch perspective.

The question isn't whether they can hold. It's whether the market will keep valuing that treasury stack at a premium once volatility kicks in.

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MetaNeighbor

· 14h ago

1x mNAV? This premium will eventually have to revert, the key is whether BTC can hold up...

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PessimisticLayer

· 14h ago

1.5b cash reserves sound like a lot, but what happens when the real test comes? The inability to maintain the premium is the real problem --- A premium of 1x mNAV, when the Fluctuation comes, it immediately falls back, this is the reality --- The issue is not whether we can endure it, but whether the market is still willing to give this valuation, I bet it's unwilling --- Sufficient cash ≠ stable premium, don’t overthink it --- When the Fluctuation really comes, a high premium will just be a joke

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AirdropHuntress

· 14h ago

1.5 billion USD in cash reserves sounds good, but the problem is whether this set of assets will still be valuable when the Fluctuation comes... the premium will eventually have to return.

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AirdropHunter420

· 14h ago

1x mNAV is right in front of us, $1.5 billion cash reserves are honestly okay, but with the fluctuations, how many days can this premium hold up? --- MSTR has no risk of being forced to sell BTC this time, sounds good, but the question is when will the market return to rationality? --- $1.5 billion sounds like a lot, but if it really falls, this premium probably won't last long. --- Everyone says liquidity is fine, but the real challenge is whether this premium valuation can survive until the bull run. --- No liquidation risk doesn't count as favourable information, the key is when this high premium will admit defeat. --- Having cash as a cushion is good, but once market sentiment reverses, this premium will vanish in an instant. --- 1x mNAV is okay, just want to see how long this valuation can hold up when fluctuations come.

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