mNAV：比特幣財庫的真實價值與風險分析
mNAV作為評估比特幣財庫公司的指標，雖然受到廣泛使用，但NYDIG的研究指出它忽略了關鍵風險，特別是資本結構和可轉換債務的影響。你認為mNAV是否需要改進以更好反映市場現實？
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![[Subject]: Young Asian female with "Imada Mio-inspired" doll-like aesthetic (精緻洋娃娃臉). She has large round expressive eyes, a small V-line face, and rosy cheeks. Her expression is innocent, energetic, and slightly flirty. [Hair]: Messy morning hair (剛睡醒的凌亂感), long dark brown hair, slightly tousled, natural volume. [Outfit]: Wearing an oversized translucent white button-down shirt (男友風白襯衫), unbuttoned at the top to reveal collarbones, creating a "bottomless" look (下衣失蹤風格). [Style]: Japanese Gravure Photobook style (寫真集風格), Pure & Sexy vibe, bright high-key lighting, soft skin texture, Fujifilm PRO 400H color tone.](https://ssfuture.shop/wp-content/uploads/ai_gen_1764968733-300x300.png)
