RE: LeoThread 2025-08-15 19:56

Over 80% of strategy companies trade at an mNav premium

This signals that investors believe the strategy company can accumulate BTC more efficiently than the average investor

Aka they can use things like preferred stock offerings to get cash now, buy the underlying (BTC for them, LEO for LeoStrategy) and permanently add it to their balance sheet

In LSTR’s case, it often trades at an mNav discount. This signals investors may not believe LeoStrategy can accumulate faster and more efficiently than the average person

As the fund matures, this sentiment will change. Look to things like @lstr.voter, SURGE and the LSTR initial sale. Then consider things like the Market Maker that’s coming and the other revenue streams LSTR can and will build (like collateralized LEO lending)

I don’t know any individuals that can accumulate better. IMHO LSTR should trade at a heavy premium. Yet it’s an 18% discount rn