Adam Livingston says zero residual NAV does not necessarily mean worthless equity at Bitcoin treasury companies. Using Robert Merton’s model, he argues common stock can retain option-like value on underlying assets, reshaping crypto valuation analysis.
published
Adam Livingston says zero residual NAV does not necessarily mean worthless equity at Bitcoin treasury companies. Using Robert Merton’s model, he argues common stock can retain option-like value on underlying assets, reshaping crypto valuation analysis.
Latest documented BWB result
$MELI market result
Long $MELI CDS Expiring next Friday $1900/$1950 for $16 (which gives me $34 profit)
Historical results are not a promise of future performance. Trading involves substantial risk.This public post is a timestamped information archive, not personalized financial advice. Alerts can change as markets move. Join Billy's private group for the complete daily stream and follow-through.