Aug. 24 at 10:09 AM
$BNC $SNXX $BTCT
BNC looks seriously undervalued vs. its BNB treasury.
BNC holds 515,544 BNB. At BNB =
$700:
515,544 ×
$700 =
$360.9M BNB value.
After debt/other liabilities and dilution, I estimate NAV at roughly
$6.35/share.
At ~
$3.30, BNC trades at only ~52% of NAV — meaning the market is valuing the company at a huge discount to the assets it owns.
If BNB reaches
$700, fair value looks closer to
$6–8/share.
The market may be pricing BNC like a small company — while its balance sheet is primarily a BNB treasury. (sec.gov)
