Short, jargon-free guides to the metrics and strategies behind companies, funds, and governments holding Bitcoin, Ethereum, and Solana on the balance sheet — written by the team that tracks every one of their disclosures.
A short path from the basics to the finer points — each guide builds on the one before it. Jump in anywhere, or follow it top to bottom.
New guides are added as the corporate-treasury landscape evolves — written by the team that tracks these disclosures every day.
The plain-English starting point: what a crypto treasury (or DAT) company is, why a company puts Bitcoin, Ethereum, or Solana on its balance sheet, and how to think about one as an investor.
mNAV compares a treasury company’s market value to the crypto it holds. Learn what a premium or discount signals, why it moves, and how to use it without getting burned.
Where to find the coin count, the cost basis, and the date that matters in a company’s own report — in plain English, with a two-minute checklist anyone can run.
How public companies put Bitcoin on the balance sheet, fund it, account for it, and disclose it — and what to watch when a company turns itself into a Bitcoin holding vehicle.