
Strategy (NASDAQ:MSTR) is lagging Bitcoin (CRYPTO: BTC) despite BTC hitting all-time highs this week, raising concerns among traders about whether investing in the leading Bitcoin treasury company still makes sense.
What Happened: Strategy's premium over its Bitcoin holdings has dropped sharply, with its basic net asset value (NAV) premium now at 1.4 and its self-reported mNAV at 1.61 — both at their lowest since February 2024.