Name: What levels will Microstrategy's mNAV hit by December 31?
Start: 2025-08-12T16:44:20.75483Z
End: 2026-01-01T04:00:00Z

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What levels will Microstrategy's NAV reach by December 31?

This market will immediately resolve to "Yes" if Microstrategy's mNAV is equal to or greater than the value specified in the title on any day by December 31, 2025. Otherwise, this market will resolve to "No."

Resolution will be based on StrategyTracker's "NAV Premium & Performance" chart available at https://strategytracker.com/mstr/, with "1M" and "Diluted Shares" selected.

NAV data for any given date will be considered finalized once the data point for the following calendar day is published on the chart.

This market will resolve based on the specified StrategyTracker chart, not according to other sources or spot markets.

↑ 2.00

This market will immediately resolve to "Yes" if Microstrategy's mNAV is equal to or lower than the value specified in the title on any day by December 31, 2025. Otherwise, this market will resolve to "No."

Resolution will be based on StrategyTracker's "NAV Premium & Performance" chart available at https://strategytracker.com/mstr/, with "1M" and "Diluted Shares" selected.

NAV data for any given date will be considered finalized once the data point for the following calendar day is published on the chart.

This market will resolve based on the specified StrategyTracker chart, not according to other sources or spot markets.

↓ 1.50

↓ 1.00

↑ 2.50

What levels will Microstrategy's mNAV hit by December 31?

This market will resolve to "Yes" if MicroStrategy sells any of its Bitcoin by 11:59 PM ET on the date specified in the title. Otherwise, this market will resolve to "No".

The primary resolution source for this market will be information from MSTR and on-chain data, however a consensus of credible reporting will also be used.

MicroStrategy sells any Bitcoin by December 31, 2026?

This market will resolve to "Yes" if MicroStrategy incorporated is margin called on any of its Bitcoin-backed loans by December 31, 2025, 11:59 PM ET, resulting in either a forced liquidation of Bitcoin by a lender or MicroStrategy posting additional collateral or making a loan repayment in response to the margin call. Otherwise, this market will resolve to "No."

A margin call is defined as a lender formally requiring MicroStrategy to either provide additional collateral or repay part of a loan due to the value of Bitcoin collateral falling below the required loan-to-value (LTV) ratio. Voluntary Bitcoin sales by MicroStrategy that are not explicitly in response to a margin call will not count. 

The primary resolution sources will be SEC filings, official MicroStrategy statements, and a consensus of credible financial reporting.

Will MicroStrategy be margin called in 2025?

This market will resolve to "Yes" if MicroStrategy incorporated is forced to liquidate any of its Bitcoin holdings/positions by December 31, 2025, 11:59 PM ET, due to lender action or other external financial obligations beyond its control. Otherwise, this market will resolve to "No."

Forced liquidation is defined as the sale of Bitcoin by MicroStrategy or a lender as a direct result of a contractual obligation, such as a loan default, an unfulfilled margin call, or legal/regulatory enforcement requiring the company to sell. Voluntary Bitcoin sales, proactive debt repayments, or discretionary asset reallocation will not count. 

The primary resolution sources will be SEC filings, official MicroStrategy statements, and a consensus of credible financial reporting. 


Will MicroStrategy be forced to liquidate Bitcoin holdings in 2025?

This market will resolve to “Yes” if MicroStrategy is removed from either the MSCI World Index or the MSCI USA Index at any point by March 31, 2026, 11:59 PM ET. Otherwise, it will resolve to “No.”

If MicroStrategy is transferred between indexes (e.g., from MSCI World to another MSCI index), that will also count as a removal for the purposes of this market.

An official MSCI announcement of removal or transfer will be sufficient for a ‘Yes’ resolution.

The resolution source will be official MSCI communication or a consensus of credible reporting.


Microstrategy delisted from MSCI index by March 31?

This market will resolve according to the official closing price for Microsoft (MSFT) on the final trading day of 2025.

If the reported value falls exactly between two brackets, then this market will resolve to the higher range bracket.

If the final trading day is shortened (for example, due to a market-holiday schedule), the official closing price published for that shortened session will still be used for resolution. If no official closing price is published for that session (for example, due to a trading halt into the close, system issue, delisting, or other disruption), the market will use the last valid on-exchange trade price of the regular session as the effective closing price.

In the event of a stock split, reverse stock split, or similar corporate action affecting the listed company during the listed time frame, this market will resolve based on split-adjusted prices as displayed on Yahoo Finance.

The target price will be adjusted proportionally to reflect any stock splits. Resolution will be based on the historical price data as shown on Yahoo Finance after any adjustments have been applied.

The resolution source for this market is Yahoo Finance, specifically the Microsoft (MSFT) "Close" prices available at https://finance.yahoo.com/quote/MSFT/history, published under "Historical Prices."

Will Microsoft (MSFT) close at $480–500 in 2025?

This market will resolve according to the official closing price for NVIDIA (NVDA) on the final trading day of 2025.

If the reported value falls exactly between two brackets, then this market will resolve to the higher range bracket.

If the final trading day is shortened (for example, due to a market-holiday schedule), the official closing price published for that shortened session will still be used for resolution. If no official closing price is published for that session (for example, due to a trading halt into the close, system issue, delisting, or other disruption), the market will use the last valid on-exchange trade price of the regular session as the effective closing price.

In the event of a stock split, reverse stock split, or similar corporate action affecting the listed company during the listed time frame, this market will resolve based on split-adjusted prices as displayed on Yahoo Finance.

The target price will be adjusted proportionally to reflect any stock splits. Resolution will be based on the historical price data as shown on Yahoo Finance after any adjustments have been applied.

The resolution source for this market is Yahoo Finance, specifically the NVIDIA (NVDA) "Close" prices available at https://finance.yahoo.com/quote/NVDA/history, published under "Historical Prices."

Will NVIDIA (NVDA) close at $170–175 in 2025?

This market will resolve to “Up” if the first official Nasdaq closing price for Micron Technology (MU) after the next earnings release is higher than the official Nasdaq closing price for MU prior to the earnings release.

This market will resolve to “Down” if the official Nasdaq closing price for Micron Technology (MU) after the next earnings release is lower than the official Nasdaq closing price for MU prior to the earnings release.

This market resolves based on the exact timing of the company’s first public release of earnings figures, regardless of whether they appear in a press release, earnings call, SEC filing, or similar. If the earnings figures are released before the close of regular trading hours, the same day’s closing price will be compared to the most recent prior closing price. If the numbers are released after the market has closed, the following day’s closing price will be compared to the most recent prior closing price.

The ‘most recent prior closing price’ always refers to the latest regular session close preceding the earnings release. Only official closing prices from regular trading days will be used.

If the two specified closing prices are exactly equal, this market will resolve 50-50. Note that all figures will be rounded to the nearest cent using standard rounding.

If MU does not trade at all during the specified regular session, or if the company does not release earnings within 60 calendar days of this market's creation, this market will resolve 50-50.

If either of the relevant days is shortened (for example, due to a market holiday schedule), the official closing price published by Nasdaq for that shortened session will still be used for resolution.

If either of the relevant days has no official closing price (for example, due to a trading halt into the market close, system issue, delisting, or other disruption), the market will use the last valid on-exchange trade price of the regular session as the effective closing price.

The resolution source for this market is the Nasdaq Historical Quotes page (nasdaq.com), specifically the Close values for MU.

Micron Technology (MU) Up or Down After Earnings?

This market will resolve to "Yes" if Phantom's daily builder revenue is equal to or greater than the value specified in the title on any day by December 31, 2025. Otherwise, this market will resolve to "No".

The resolution source for this market is Flowscan, specifically the "Daily Revenue by Builder" bar chart set on "30D" available at https://www.flowscan.xyz/builders?builder=all

This market will resolve once any daily total revenue for Phantom is equal to or greater than the value specified in the title, or once the bar for "31 Dec 2025" is finalized and no bar within the timeframe has been equal to or greater than that value.

The value displayed when hovering over the bar for "Dec 31, 2025" will be considered finalized once any bar for January 1 is published.

Will Phantom daily builder revenue hit $300k in 2025?

This market will resolve to "Yes" if the AI industry experiences an industry downturn by the specified date, 11:59 PM ET. Otherwise, this market will resolve to "No".

For the purposes of this market, the AI industry will be considered to have experienced an industry downturn once at least three of the following events have occurred within 90 days of this market's specified timeframe:
- NVIDIA Corporation (NVDA) closing stock price is down 50% from its all-time high.
- iShares PHLX Semiconductor ETF (SOXX) closing stock price is down 40% from its all-time high.
- OpenAI, Inc. or Anthropic PBC declares bankruptcy.
- OpenAI, Inc. is acquired.
- H100 rental price falls to $1.00 or lower for five consecutive days, as shown on the SiliconData Silicon Index at:
https://www.silicondata.com/products/silicon-index.
- Major AI Hardware Supplier Collapse: Taiwan Semiconductor Manufacturing Company Limited (TSM), ASML Holding N.V. (ASML), Broadcom Inc. (AVGO), Arista Networks, Inc. (ANET), or Super Micro Computer, Inc. (SMCI), closing stock price is down 50% from its all-time high.

This market may resolve immediately once three conditions have been met within 90 days of the specified timeframe.

This market will not resolve to "Yes" until three conditions have been met, regardless of reporting of an industry downturn or similar claims.

The primary resolution source will be official information from the respective companies and listing exchanges; however, a consensus of credible reporting will also be used.

AI Industry Downturn by December 31, 2026?

As of market creation, CarMax is estimated to release earnings on December 18, 2025. The Street consensus estimate for CarMax's GAAP EPS for the relevant quarter is $0.33 as of market creation. This market will resolve to "Yes" if CarMax reports GAAP EPS greater than $0.33 for the relevant quarter in its next quarterly earnings release. Otherwise, it will resolve to "No." The resolution source will be the GAAP EPS listed in the company’s official earnings documents. 

If CarMax releases earnings without GAAP EPS, then the market will resolve according to the GAAP EPS figure reported by SeekingAlpha. If no such figure is published within 96h of market close (4:00:00pm ET) on the day earnings are announced, the market will resolve to “No”.

If the company does not release earnings within 45 calendar days of the estimated earnings date, this market will resolve to “No.” 

Note: Subsequent restatements, corrections, or revisions made to the initially announced GAAP EPS figure will not qualify for resolution, except in the case of obvious and immediate mistakes (e.g., fat finger errors, as with Lyft's (LYFT) earnings release in February 2024).
Note: The strike prices used in these markets are derived from SeekingAlpha estimates, and reflect the consensus of sell-side analyst estimates for GAAP EPS. 
Note: All figures will be rounded to the nearest cent using standard rounding.
Note: For the purposes of this market, IFRS EPS will be treated as GAAP EPS.
Note: For the purposes of this market, GAAP EPS refers to diluted GAAP EPS, unless this is not published, in which case it refers to basic GAAP EPS.
Note: All figures are expressed in USD, unless otherwise indicated.
Note: For primarily internationally listed companies, this market refers specifically to the shares traded in the United States on U.S. stock exchanges such as the NYSE or Nasdaq. In cases where the company trades in the U.S. through an American Depositary Receipt (ADR) or American Depositary Share (ADS), this market will refer to the ADR/ADS.


Will CarMax (KMX) beat quarterly earnings?

This market will resolve to "Yes" if Metamask's daily builder revenue is equal to or greater than the value specified in the title on any day by December 31, 2025. Otherwise, this market will resolve to "No".

The resolution source for this market is Flowscan, specifically the "Daily Revenue by Builder" bar chart set on "30D" available at https://www.flowscan.xyz/builders?builder=all

This market will resolve once any daily total revenue for Metamask is equal to or greater than the value specified in the title, or once the bar for "31 Dec 2025" is finalized and no bar within the timeframe has been equal to or greater than that value.

The value displayed when hovering over the bar for "Dec 31, 2025" will be considered finalized once any bar for January 1 is published.

What levels will Microstrategy's mNAV hit by December 31?

↑ 2.50
$6,196 Vol.
1%
0123456789
%

↑ 2.00
$128,809 Vol.
<1%

Market Context

What levels will Microstrategy's mNAV hit by December 31?

Rules

What levels will Microstrategy's mNAV hit by December 31?

Market Context

What levels will Microstrategy's mNAV hit by December 31?

About

Related

What levels will Microstrategy's mNAV hit by December 31?

↑ 2.50$6,196 Vol.1%0123456789%buy Yes1.0¢buy No99.4¢

↑ 2.00$128,809 Vol.<1%buy Yes0.4¢buy No99.7¢

Market Context

What levels will Microstrategy's mNAV hit by December 31?

Rules

What levels will Microstrategy's mNAV hit by December 31?

Market Context

What levels will Microstrategy's mNAV hit by December 31?

About

Related

↑ 2.50
$6,196 Vol.
1%
0123456789
%

↑ 2.00
$128,809 Vol.
<1%