Bitcoin near $80K repaired treasury values—but not the equity flywheel. Strategy, Twenty One and Metaplanet still trade below gross BTC value on basic mNAV measures, leaving new purchases dependent on dilution, senior financing or much stronger operating cash flow. https://cryptoslate.com/bitcoin-hitting-80000-failed-to-restore-btc-treasury-premiums-at-strategy-twenty-one-capital-or-metaplanet/(CryptoSlate)