[Viewpoint: MicroStrategy MSCI Exclusion Risk May Have Been Priced In, MSTR Net mNAV Falling Below 1 Could Be an Opportunity] BlockBeats News, October 17, crypto KOL CM shared a viewpoint stating that the market may have already priced in the impact of MSCI excluding MicroStrategy (Strategy). When passive selling pressure actually occurs, the MSTR stock price may not necessarily experience a significant further decline. MSTR closed down 9.56% yesterday. Currently, there are different statistical approaches to valuing MSTR in the market. The general mNAV is the ratio of the company's stock market value to the value of its BTC holdings, while the net mNAV takes into account factors such as preferred stock and debt, reflecting the stock price relative to the net BTC value per share. Instances of net mNAV falling below 1 are rare and usually indicate that the market is beginning to worry about the company's operational status or valuation logic. For example, in June of this year, the market was concerned about Strategy's tight cash reserves and the decline in BTC prices, raising fears of insolvency, which put pressure on the net mNAV. However, at present, Strategy's cash reserves are abundant, theoretically sufficient to cover approximately three years of dividend payments, and BTC prices remain above its holding cost of around $75,000. Therefore, the probability of net mNAV falling below 1 again is low. If it does fall below 1, it could instead present an investment opportunity. [Original Link]