MSTR mNAV Below 1.0x Raises the Stakes for Monday's 8-K, Borrow/Lend and the SOL Ecosystem Show Early Signs of Life
Jun 26, 2026
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Monday's Strategy Filing Could Prove Pivotal: Strategy remains the most important crypto-specific variable heading into next week. The company now trades below 1.0x mNAV, meaning any incremental common stock issuance would no longer be accretive to BTC per share under management's stated framework. That makes Monday's 8-K particularly consequential. In my view, the best-case outcome is that Strategy meaningfully acc...