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Strategy Debuts 'Net Bitcoin Per Share' Metric, Excluding $22.3B in Debt Claims

Stocks Token Events

2026-07-24 16:27:05

BTC-0.83%

According to Strategy's official announcement on July 23, the company published new investor metrics including 'net Bitcoin per share,' which subtracts $22.3 billion in debt and preferred-stock claims from its Bitcoin holdings to show what belongs to common shareholders.

The metric has risen from $13 at the end of 2020 to $95, representing a 43% compound annual growth rate—outpacing Bitcoin's 16% gain over the same period. Strategy also redefined its mNAV to 1.0x par and recast amplification as a roughly 1.5x equity multiplier, citing the shift from convertible debt to 'digital credit' financing.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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