On November 19, 2024, BlackRock launched IBIT options with over 2 billions USD volume. The next day, Strategy’s mNAV peaked at 3.141 as BTC neared 100,000 USD and MSTR reached 540 USD.
Since then, MSTR fell 40% with mNAV at 1.55, holding 331,200 BTC, and rose 515% since January 2024.
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