MicroStrategy: Revises mNAV to Include Preferred Stock

MicroStrategy revised its mNAV metric to define Net Reserve as BTC holdings at market value plus cash minus debt and preferred stock obligations, directly addressing indirect dilution and resetting the accretion threshold at 1.0x.

Over the past twelve months the firm has continued refining treasury metrics while expanding its BTC stack. Bitcoin currently sits at $65324.73 inside the Bollinger Bands, testing the upper resistance at $66862.45 while the lower support rests at $64767.83. The EMA50 at $65051.68 serves as near-term floor and the EMA200 at $63783.33 as deeper structural support; the MACD death cross at 41.83 signals weakening momentum even as the neutral RSI at 48.99 leaves room for consolidation ahead of the next leg in any BTC price prediction scenario.