As Bitcoin treasury companies continue to expand across the United States, an engineer on the opposite side of the globe is capitalizing on this trend by developing dashboards for these firms.
Initially known as MicroStrategist, mNAV recently underwent a rebranding to better align with its growing focus on numerous Bitcoin-acquiring companies. Marty Kendall, co-founder and director of mNAV based in Australia, shared insights into this shift.
“In a gold rush, sell shovels,” he remarked to Decrypt. “Every business requires clarity and transparency; they must build effectively for their dashboards.”
The name mNAV stands for multiple-to-net asset value—a widely used informal standard that evaluates Bitcoin treasury firms by comparing their market capitalization with their digital asset holdings. However, this is just one of many metrics offered by mNAV.
This year has seen new entrants like cannabis growers, distilleries, and healthcare device manufacturers stepping into digital assets. These companies aim to follow in the footsteps of Strategy—the largest corporate holder of Bitcoin—by increasing cryptocurrency ownership per share.
While some analysts point out signs of investor fatigue in this sector, Kendall believes these firms are crucial for broader adoption beyond products such as exchange-traded funds (ETFs).
“I am fundamentally convinced about what Bitcoin can offer globally,” he stated. “I want it transformed into its ultimate form—and treasury companies play an integral role.”
The first dashboard developed by mNAV was created specifically for Capital B investors who could switch between USD or EUR metrics while assessing various aspects like how well Capital B shares perform relative to Bitcoins or progress towards accumulation goals.
“Everyone loved that feature,” noted Kendall; leading them toward opportunities with other organizations including ‘Bitcoin For Corporations,’ which promotes itself as an executive network platform offering 17 different firm-specific dashboards powered through MNAV technology ranging from Strategy’s $79 billion stockpile down onto Locate Technologies’ modest stash worth $1.5 million dollars each!.</p>
Kendall highlighted several deals made directly between individual businesses using data sourced via Polygon.io rather than mentioning specific involvement within those displayed online via either strategy-related websites nor elsewhere publicly accessible without prior agreement being reached beforehand privately behind closed doors instead potentially providing valuable analytical insights concerning overall performance trends observed among competing players vying fiercely amidst rapidly evolving landscape unfolding dynamically before us today presently underway currently ongoing throughout entire industry sector-wide generally speaking broadly construed encompassing all relevant stakeholders involved collectively together collaboratively working harmoniously synergistically towards achieving common objectives mutually beneficial outcomes desired end results ultimately attained successfully accomplished eventually realized fully achieved satisfactorily met expectations exceeded 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