5 mNAV Facts: Australian Startup that is the Backbone of the Bitcoin Treasury Industry!

Jakarta, Pintu News – Behind the surge in Bitcoin (BTC) prices and the trend of large companies hoarding the crypto as a backup asset, new opportunities are emerging. One of them comes from mNAV, an Australian startup that chooses not to buy Bitcoin, but instead provides data and analytics infrastructure for companies that do.

The mNAV phenomenon confirms that behind the “Bitcoin treasury fever”, supporting technology companies – or infrastructure enablers – play a vital role. For Marty Kendall, founder of mNAV, data transparency and access to information are the “new tools” in the digital asset revolution.

“In a gold rush, sell shovels. Every company needs transparency, and that’s what we’re building,” Kendall told Decrypt (October 5, 2025).

From Ordinary Engineer to Bitcoin Treasury Ecosystem Driver

While US companies are scrambling to build up Bitcoin reserves to strengthen their balance sheets, Marty Kendall, an Australian engineer, sees a different opportunity. He built mNAV, an analytics dashboard company that helps corporations manage and display their Bitcoin holdings data.

Today, the mNAV dashboard is used by dozens of publicBitcoin treasury firms. Their data displays indicators such as the market value of digital assets, stock performance against BTC, and asset accumulation ratios – making mNAV a sort of “Bloomberg Terminal” for crypto companies.

Also Read: Shiba Inu Price Prediction: Will October Be a Month Full of Surprises?

Rebranding from MicroStrategist to mNAV

Before its current name, the company was called MicroStrategist, inspired by Strategy, the public company with the largest Bitcoin holdings in the world. However, after increasing demand from various industries – from technology to healthcare – Kendall rebranded to mNAV (multiple-to-net-asset value).

According to a Decrypt report, mNAV now serves more than 17 Bitcoin treasury companies. Their first dashboard was built for Capital B, which was a huge success and paved the way for a partnership with Bitcoin for Corporations, a global executive network for Bitcoin-holding companies like Strategy and Locate Technologies.

“Sell Shovels” Strategy amid Bitcoin Explosion

The year 2025 is an important moment for corporate expansion into the world of Bitcoin. Not only technology companies, but also liquor producers, marijuana companies, and medical device manufacturers began buying Bitcoin as a hedge against inflation and the weakening of the US dollar.

In the midst of this trend, mNAV came up with a simple yet smart strategy: selling “tools” to modern miners. By providing turnkey analytics, they help companies understand crypto financial data without having to rely on manual spreadsheets or complex financial reports.

“Every company needs data that is clear and easy to read,” says Kendall. “We just make it accessible with one click.”

Strategy is an inspiration, but mNAV is self-sustaining

The company Strategy – a $79 billion (Rp1.31 trillion) Bitcoin holder – was the initial inspiration for mNAV. However, Kendall emphasizes that mNAV is not only focused on large companies. The startup also caters to smaller companies that are just starting to integrate Bitcoin into their portfolios.

Although the Strategy dashboard currently draws data from Polygon.io, Kendall said that mNAV has signed a number of exclusive contracts with other companies. They are also developing a public analysis feature, which will allow retail investors to compare the performance of Bitcoin storage companies directly.

“We want to change the way investors understand Bitcoin-holding companies,” Kendall said. “The analysis on social media is too superficial – we want to bring real depth to the data.”

mNAV’s Big Mission: Improving Digital Asset Transparency

For Kendall, the mNAV project is not just a business, but a personal effort to bring transparency to the world of Bitcoin. He himself admits to owning shares in several Bitcoin storage companies such as Strategy, as well as actively researching corporate digital asset accumulation patterns.

“I believe Bitcoin can have a fundamental impact on the world,” he said. “Treasury companies are an important part of that evolution.”

mNAV now plans to open access to its dashboard to the public so that retail investors can view and compare the performance of Bitcoin treasuries in real-time. With this move, mNAV has the potential to become a key tool for institutional and individual investors in monitoring the movement of digital assets in the era of decentralized finance.

Conclusion

The mNAV phenomenon shows the other side of the Bitcoin revolution: not all big players have to hoard BTC. There is a huge opportunity on the supporting side – building the data infrastructure, transparency and analytics tools that underpin its ecosystem.

With more and more companies integrating Bitcoin into their financial strategies, mNAV has the potential to become the new backbone for digital asset market transparency, bridging the corporate and blockchain worlds of the future.

Also Read: Dogecoin October 2025 Breakout Potential: Analyst Ali Martinez Points to Accumulation Phase!

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Reference

• Decrypt. ‘Sell Shovels’: This Firm Makes Dashboards for Strategy and Dozens of Bitcoin Treasuries. Accessed on October 7, 2025