NYDIG Demands Bitcoin Treasury Firms Abandon ’Misleading’ mNAV Metric

Wall Street's crypto heavyweight throws down the gauntlet on corporate Bitcoin accounting.

The mNAV Fallacy

NYDIG's research team exposes how modified net asset value metrics create distorted pictures of corporate Bitcoin holdings. The firm argues these calculations mask underlying volatility while overstating stability.

Accounting Theater

Traditional finance meets crypto transparency as institutions grapple with proper valuation frameworks. NYDIG contends standardized reporting would boost institutional adoption—finally giving corporate treasuries something resembling actual accounting instead of creative number-juggling.

Market Implications

The call for transparency comes as public companies hold record Bitcoin amounts. Clear metrics could separate serious adopters from those just riding the hype cycle—because nothing says 'serious investment' like properly audited numbers instead of financial engineering that would make Enron blush.