Broken PIPEs: Is Now the Time to Buy ASST, NAKA?
Several Bitcoin treasuries are trading below their net asset value after PIPE share unlocks crushed their stock prices. Nakamoto (NAKA) trades at 0.52x mNAV with a $329 million market cap against 5,765 BTC valued at $634 million — a 48% discount to its BTC. Strive (ASST) hovers at 0.