Bitcoin Treasury Stocks Dey Face Different Valuations: MicroStrategy Wahala and Discount Chance for Trump Media & Semler Scientific

Plenty companies dem dey, like Trump Media (DJT) and Semler Scientific (SMLR), wey dey try follow MicroStrategy (MSTR) waka by dey gather big big bitcoin reserves, so dem fit represent demself as bitcoin treasury stocks. One analyst wey dem sabi as @lowstrife don warn before say these kain companies get structural risks, especially MSTR, because e stock price and how e dey get money depend well well on how people dey feel about market net asset value (mNAV) instead of the real asset wey dem get. This one fit make dem vulnerable if kasala start for market mind and fit make dem gats sell asset quick quick when dem gats pay back debt. Recent NYDIG research show another way to check company value pass mNAV, e come introduce something wey dem call equity premium to NAV as one important measure. NYDIG talk say Trump Media and Semler Scientific dey trade for below market with the lowest equity premiums to NAV for the sector, dem show say the shares dey cost less than the value of their bitcoin holdings. Despite this one, both still get mNAV wey pass 1.1. If we compare, MSTR don strong pass because of recent bitcoin price rise, but DJT and SMLR no too move, e show how market react different and maybe the last two get value wey people never really see yet. For crypto traders dem, this one mean say even though all bitcoin treasury stocks get their own risk because of how people dey feel and debt financing, some stocks like DJT and SMLR fit be good chance to enter for cheaper way to get indirect bitcoin exposure. But to really know how much dem worth and the risk involved, na better multi-metric approach person suppose use as the market still dey change and investors get more choice.