Treasury comparison quadrant
Every tracked treasury on one map: gross mNAV (cheapness) across, Amplification (senior leverage) up, bubble size by bitcoin held. A low gross mNAV can sit beside heavy leverage · the tension BTC Prague 2026 surfaced, shown by position rather than a score.
Each bubble: gross mNAV (x) × Amplification (y), sized by BTC held. Dashed line = NAV (gross mNAV 1.0×). Refreshed every 5 minutes. Pending (no amplification yet, senior claims unsourced): MPJPY.
Frequently asked
How do I read the treasury comparison quadrant?
Left to right is gross mNAV · cheaper (below 1.0x, trading under the value of its bitcoin) on the left, richer on the right. Bottom to top is Amplification · how much senior leverage (debt and preferred) the company carries, with 1.0x at the bottom meaning none. Bubble size is bitcoin held. The point: a company can look cheap on gross mNAV (left) while carrying heavy leverage (top), which the BTC Prague 2026 debate argued you should not ignore.
Which quadrant is best?
There is no single best · it depends on what you want. Bottom-left is cheap and clean (low mNAV, low leverage). Top-left is cheap but heavily amplified (more upside if its bitcoin return beats its cost of capital, more risk if not). Right side is a premium to the bitcoin held. Galaxy Mind shows the layout, not a verdict. Not financial advice.
What is Amplification on the vertical axis?
Amplification is gross bitcoin-per-share divided by net (CEBE) bitcoin-per-share · equivalently holdings divided by holdings net of senior claims. 1.0x means no debt or preferred (the stock tracks bitcoin like an ETF); higher means each share carries more gross bitcoin than it nets after claims. See /what-is-amplification.