The most important thing to look at when investing in a Bitcoin strategy stock is their fundraising mechanism. Specifically, check if: 1. Each new share issuance is done at market price or at a premium. 2. Each batch of new shares does not exceed the existing daily volume or float. Good luck — you’re in good hands. (Of course, this should be combined with other factors, such as the team, the size of the capital pool they can access, and their fundraising momentum.) As for when to sell: consider exiting when their fundraising starts to slow down or shows signs of exhaustion. and their mNAV might tends to get stabilize and you as retailer should start looking for next 100x bag. If any Company raise capital the way NAKA did, raise at discount to market price, in massive quantities (400x+ the existing float), and orders of magnitude above daily trading volume (4000x) it’s a huge red flag. No matter how fancy their narrative is, it’s doomed, there’s no way it can ever perform well.

Sell that shit while you can. :(