MSTR mNAV Indicator

5月9日

Strategy mNAV Indicator

Script contains hard-coded historic share counts and BTC holdings of Strategy Inc. (MSTR). Using these, we derived the Bitcoin mNAV multiple for the company. The formula used in this script looks like the following:

mNAV = (Fully Diluted Shares Outstanding * MSTR) / (BTC holdings * BTCUSD)

This value appears in the Blue tag at the right hand side of the chart on the latest bar. In addition, the script displays mNAV layers below and above the normal ticker chart. These are computed by taking fixing a value for the mNAV (e.g. mNAV=3) and solving the equation above for the MSTR price that would equate to having that mNAV.

The user is able to configure the number of said mNAV lines to draw but is limited from mNAV = 1 up to mNAV = 20.

Why is the script private?
This script includes data on the relative count of fully diluted shares for Strategy (MSTR) that was manually determined by the author after going through countless hours of SEC disclosures. Since there is no publicly available repository for this information and the author would like to retain the right to make this available at a later date, the script is kept private.

5月9日

發行說明

BTC Treasury mNAV Indicator

Update:

• Added support for ticker: MTPLF (MetaPlanet OTCQX)
  
• Added support for ticker: $3350 (MetaPlanet Tokyo)
  

Description:
Script contains hard-coded historic share counts and BTC holdings of BTC treasury companies. Using these, we derived the Bitcoin mNAV multiple for each supported company. The formula used in this script looks like the following:

mNAV = (Fully Diluted Shares Outstanding * Share Price) / (BTC holdings * BTCUSD)

This value appears in the Blue tag at the right hand side of the chart on the latest bar. In addition, the script displays mNAV layers below and above the normal ticker chart. These are computed by taking a fixed value for the mNAV (e.g. mNAV=3) and solving the equation above for the share price that would equate to having that mNAV.

The user is able to configure the number of said mNAV lines to draw but is limited from mNAV = 1 up to mNAV = 20.

Why is the script private?
This script includes data on the relative count of fully diluted shares for various BTC treasury companies that was manually determined by the author after going through countless hours of SEC disclosures. Since there is no publicly available repository for this information and the author would like to retain the right to make this available at a later date, the script is kept private.

5月9日

發行說明

Fixed multiple rendering of Error tag on non-BTC Treasury Companies

5月9日

發行說明

Added support for new BTC Treasury Company: CEP (SPAC that will become $XXI)

5月9日

發行說明

• Removed error tag on non-BTC Treasury Company tickers.
  
• Added list of soon to be supported BTC Treasury Companies.
  
• Added tag to tickers that will soon be supported by indicator.
  

5月9日

發行說明

• Added ASST to list of supported tickers.
  
• Refactored code to make maintenance easier.
  

5月12日

發行說明

Updated holdings for MTPLF and $TSX:3350 for their latest BTC purchase

Date: 2025-05-12
Fully Diluted Outstanding Shares: 699517925
New BTC Holdings: 6796

5月12日

發行說明

Updated holdings for MSTR for their latest BTC purchase

Date: 2025-05-12
Fully Diluted Outstanding Shares: 310078274
New BTC Holdings: 568,840

5月12日

發行說明

Version 0.1.2

Added KDLY ticker to supported list based on information available in their investor presentation (bamsec.com/filing/121390025041722/13?cik=1946573)

Date: 2025-05-12
Fully Diluted Shares Outstanding: 569,500,000
Current BTC Holdings: n/a
Current Dollar Holdings in lieu: $710 million

Other updates:

• Moved current mNAV indicator label to last bar's close (instead of high) for better visualization.
  

5月12日

發行說明

Version 0.1.3

Added Matador Gold Technologies Inc. (MATA, MATA, and MATAF) tickers to supported list based on information available in their annual filing and subsequent update.

Date: 2025-01-31
Fully Diluted Shares Outstanding: 92,360,319
Current BTC Holdings: 46

5月13日

發行說明

Version 0.1.4

Added Smarter Web Company (SWC) ticker to supported list based on information available.

Date: 2025-05-08
Fully Diluted Shares Outstanding: 160,916,677
Current BTC Holdings: 10.59

5月13日

發行說明

Version 0.1.4b

Small fix due to incorrect GBP <-> Pence handling code. BTC mNAV for SWC should now be correctly reflected.

5月13日

發行說明

Version 0.2

Added support for considering Treasury Cash (FIAT, USD, EUR, GBP) as part of mNAV computation. Default value = false. Double-click indicator to update the value.

Current BTC Treasury Companies this impacts: SWC

Will update cash holdings for other existing companies soon!

5月13日

發行說明

Version 0.2.1

Added Semler Scientific (SMLR) ticker to supported list based on information available.

Date: 2025-05-13
Fully Diluted Shares Outstanding: 13,896,000
Current BTC Holdings: 3,808

5月13日

發行說明

Version 0.2.1b

Small fix to use ticker.standard() instead of syminfo.ticker to prevent rendering on unrelated but equivalent ticker symbols.

Updated mNAV for ASST and KDLY to represent holdings as cash at this time as they have yet to purchase any BTC. This means their mNAV will be insanely high until that happens (or you can enable treating cash on balance sheet for mNAV computation).

5月13日

發行說明

Version 0.2.1c

Added warning on small and zero BTC treasury companies to enable "cash for mNAV" option to highlight issue when representing their BTC mNAV (i.e. its very high otherwise).

5月14日

發行說明

Version 0.2.2

Added The Blockchain Group (ALTBG) ticker to supported list based on information available.

Date: 2025-05-12
Fully Diluted Shares Outstanding: 238,996,194
Current BTC Holdings: 620
Current Cash Holdings: 22,034,978.63 EUR

5月19日

發行說明

Version 0.2.3

Updated holdings for MTPLF and $3350 for their latest BTC purchase

Date: 2025-05-19
Fully Diluted Outstanding Shares: 749,692,925
New BTC Holdings: 7800
Disclosure: contents.xj-storage.jp/xcontents/33500/b701fd66/1080/4ce0/9206/7989fd6ade07/140120250519557359.pdf

5月19日

發行說明

Version 0.2.4

Updated holdings for Smarter Web Company (SWC) to stay up-to-date with events until 2025-05-16.

5月19日

發行說明

Version 0.2.5

Updated holdings for MSTR for their latest BTC purchase

Date: 2025-05-19
Fully Diluted Outstanding Shares: 311,853,137
New BTC Holdings: 576,230

5月20日

發行說明

Version 0.2.6

Updated holdings for SWC for their latest BTC purchase

Date: 2025-05-20
Fully Diluted Outstanding Shares: 173,699,862
New BTC Holdings: 35.62

5月20日

發行說明

Version 0.2.6b

Small adjustment to SWC cash position to correctly account for BTC purchase.

5月20日

發行說明

Version 0.2.7

Updated ALTBG cash holdings with latest raise as outlined in their disclosure: theblockchain-group.com/wp-content/uploads/2025/05/20250520-TBG-CP-20-mai-2025-EN-FINAL.pdf

5月20日

發行說明

Version 0.2.8

Quality of life improvement, moved the current mNAV indicator from a tag that follows the last bar to a static table in the top right corner of the chart. This table also indicates the ticker and closing price for the actively selected stock.

5月20日

發行說明

Version 0.2.8b

Added title and version to current mNAV table display.
Added option to move the table display to three different locations: top-center, top-right, bottom-right.

Enjoy!

5月20日

發行說明

Version 0.2.8c

More quality of life improvements.

- Added more positioning options for table.
- Stripped table of all info except current mNAV.
- Shortened the Indicator name to save space.

5月23日

發行說明

Version 0.2.9

Added the latest BTC purchase for The Blockchain Group (ALTBG).

Date: 2025-05-22
Fully Diluted Shares Outstanding: 240,862,234
Current BTC Holdings: 847
Current Cash Holdings: 9,460,868.33 EUR

5月23日

發行說明

Version 0.2.10

Added the latest BTC purchase for Semler Scientific (SMLR).

Date: 2025-05-23
Fully Diluted Shares Outstanding: 15,102,691
Current BTC Holdings: 4,264

5月24日

發行說明

Version 0.2.11

Small update that mutates NAKA to NAKA, adding back support to the Nakamoto BTC treasury company. Also added DN3 support for the Euro denominated Metaplanet OTC ticker.

5月26日

發行說明

Version 0.2.12

Updated holdings for MSTR for their latest BTC purchase

Date: 2025-05-26
Fully Diluted Outstanding Shares: 312,768,034
New BTC Holdings: 580,250

5月26日

發行說明

Version 0.3.0

Major update including the following changes:

- Added support for non-diluted shares for Strategy Inc. (MSTR) and MetaPlanet (MTPLF, $3350, DN3); more tickers to follow! Simply check mark the option in the configuration dialog for the indicator.
- Added warning message dialog with descriptive messages for tickers where certain option may not apply (or are degraded).

Enjoy the update!

5月26日

發行說明

Version 0.3.1

Added debug panel to display the full ticker symbol for the active chart. Works on ANY chart, not just BTC treasury companies.

5月26日

發行說明

Version 0.3.2

** BUGFIX **

Added support for realtime AND delayed quote tickers for all supported BTC treasury companies. This should fix missing indicator issues for some users.

5月26日

發行說明

Version 0.3.3

- Added latest capital raises for ALTBG, projecting forwards their cash holdings.
- Also corrected historical share counts, BTC holdings, and cash holdings for $ALTBG.
- Added shares outstanding support for ALTBG (in lieu of fully diluted shares).

5月27日

發行說明

Version 0.3.4

- Added latest BTC purchase and capital raise (share issuance) for $SWC.

Date: 2025-05-23
Fully Diluted Outstanding Shares: 187,642,667
New BTC Holdings: 58.71
New Cash Holdings: £8,998,000.00

7 天前

發行說明

Version 0.3.5

Added latest BTC purchase for the Smarter Web Company (SWC).


Date: 2025-05-29
Fully Diluted Outstanding Shares: 187,642,667
New BTC Holdings: 83.24

Disclosure: investors.smarterwebcompany.co.uk/investors/_img/pdf/news/2025-05-23-result-of-wrap-retail-offer-and-accelerated-bookbuild.pdf

4 天前

發行說明

Version 0.4.0

MAJOR VERSION UPDATE!

This update includes a somewhat radical change to the display of the indicator. We are adding a separate pane for displaying the mNAV ratio (diluted and undiluted where available) in addition to the mNAV levels on the main chart. This shifts the indicator menu to the additional pane. This frees up real estate on the main chart but more importantly makes the mNAV over time visible (which was not the case before and had to be imputed from distance from mNAV lines on the main chart before.

Hope you enjoy the update!

4 天前

發行說明

Version 0.4.1

Updated holdings for MetaPlanet Inc. (MTPLF, DN3, and $3350) for their latest BTC purchase

Date: 2025-06-02
Fully Diluted Outstanding Shares: 759,067,925
Undiluted Outstanding Shares: 600,714,340
New BTC Holdings: 8888
Disclosure: contents.xj-storage.jp/xcontents/33500/ecf0abd9/8e80/42de/b7d2/85b6fd49fd52/140120250602575945.pdf

4 天前

發行說明

Version 0.4.2

Updated holdings for Strategy Inc. (MSTR) for their latest BTC purchase

Date: 2025-06-02
Fully Diluted Outstanding Shares: 312,803,385
Undiluted Outstanding Shares: 279,185,583
New BTC Holdings: 580,955
Disclosure: assets.contentstack.io/v3/assets/bltf8d808d9b8cebd37/blta9e30f5fb36c66f0/683d8ca3426b2a66bd583161/form-8-k_06-02-2025.pdf

3 天前

發行說明

Version 0.4.3

** BUGFIX **

Reworked the code a bit and added support for many new tickers for the existing list of BTC Treasury companies. This should allow the indicator to work for more exchanges (e.g. BATS) as well as realtime/non-realtime price feeds.

Also removed showing the undiluted mNAV plot when a given tickers is not supported for it.

3 天前

發行說明

Version 0.4.4

Updated holdings for The Blockchain Group (ALTBG) for their latest BTC purchase

Date: 2025-06-03
Fully Diluted Outstanding Shares: 299,355,400
Undiluted Outstanding Shares: 108,862,920
New BTC Holdings: 1471
Disclosure: theblockchain-group.com/wp-content/uploads/2025/06/20250603-TBG-CP-03-juin-2025-EN-FINAL.pdf

前天

發行說明

Version 0.4.5

Updated holdings for Semler Scientific (SMLR) for their latest BTC purchase

Date: 2025-06-04
Fully Diluted Outstanding Shares: 15,643,791
New BTC Holdings: 4449
Disclosure: ir.semlerscientific.com/node/10971/html

昨天

發行說明

Version 0.4.6

Added latest BTC purchase for the Smarter Web Company (SWC).

Date: 2025-06-05
Fully Diluted Outstanding Shares: 204,181,466
New BTC Holdings: 122.76

Disclosure(s): investors.smarterwebcompany.co.uk/investors/_img/pdf/news/2025-06-05-result-of-wrap-retail-offer-and-accelerated-bookbuild.pdf and investors.smarterwebcompany.co.uk/investors/_img/pdf/news/2025-06-05-bitcoin-purchase.pdf