DWF Ventures released a report stating that only 4 out of the top 20 crypto treasury companies have their stock value trading higher than the value of their asset holdings. According to Crypto Briefing, the market capitalization to net asset value ratio (mNAV) for the other 16 companies is less than 1.0, which theoretically means that if you buy shares of these companies and cash out their cryptocurrencies, you could make more profit than the purchase price. The report explained, "The market undervalues the actual companies compared to the value of the tokens held by the majority of them. The problem lies in the structure. The way these companies grow can shake their foundations."
