---
title: "\"The leading Bitcoin concept stock\" MSTR has already plummeted"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/266277196.md"
description: "As the leader of the \"coin hoarding\" model, MSTR's market value has fallen below the value of its held Bitcoin, which means the key indicator mNAV (net asset value) has dropped to a negative value, shaking the value of the \"coin hoarding strategy.\""
datetime: "2025-11-18T00:35:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266277196.md)
  - [en](https://longbridge.com/en/news/266277196.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266277196.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/266277196.md) | [繁體中文](https://longbridge.com/zh-HK/news/266277196.md)


# "The leading Bitcoin concept stock" MSTR has already plummeted

As the leader of the "HODL" model, MSTR's market value has fallen below the value of its held Bitcoin, which means the key indicator mNAV (net asset value) has dropped to a negative value, shaking the value of the "HODL strategy."

### Related Stocks

- [Franklin Bitcoin ETF (EZBC.US)](https://longbridge.com/en/quote/EZBC.US.md)
- [American Bitcoin Corp. (ABTC.US)](https://longbridge.com/en/quote/ABTC.US.md)
- [Hashdex Bitcoin ETF (DEFI.US)](https://longbridge.com/en/quote/DEFI.US.md)
- [CoinShares Bitcoin ETF (BRRR.US)](https://longbridge.com/en/quote/BRRR.US.md)
- [Grayscale Bitcoin Trust ETF (GBTC.US)](https://longbridge.com/en/quote/GBTC.US.md)
- [BTC/HKD (BTCHKD.VAHK)](https://longbridge.com/en/quote/BTCHKD.VAHK.md)
- [BTC/USD (BTCUSD.VAHK)](https://longbridge.com/en/quote/BTCUSD.VAHK.md)

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