
MicroStrategy’s Bitcoin reserves nearly equal its $65 billion market cap, with mNAV dipping below parity as BTC holdings closely track corporate valuation.
MicroStrategy’s market capitalization stands at $65 billion, closely matching the $65.16 billion value of its 641,692 BTC holdings, as its mNAV slipped to 0.989, according to Bitcointreasuries data. The company’s average Bitcoin purchase price remains $74,085, following a November 2024 acquisition of 487 BTC worth $49.9 million. The decline in mNAV reflects a narrowing gap between the firm’s equity value and its Bitcoin reserves, reinforcing its status as the largest corporate Bitcoin holder.