Strategy's mNAV Falls to 2022 Lows as Bitcoin Trades Near $64K Amid Saylor Speculation

According to crypto analyst Michaël van de Poppe, Strategy's market net asset value (mNAV) has dropped to levels last seen during the 2022 bear market this week, while Bitcoin trades around $64,100. The mNAV ratio compares the company's enterprise value with the market value of its Bitcoin holdings. Despite the decline, van de Poppe notes that Strategy remains in a stronger position because Michael Saylor has continued adding Bitcoin rather than reducing holdings.

Saylor's latest orange dot post has sparked trader speculation about another potential Bitcoin purchase announcement. Bitcoin remains trapped in a $62,000–$66,000 range, with support at $60,000 and potential resistance near $80,000. Spot Bitcoin ETF flows and upcoming macroeconomic data will likely determine the next directional move.