$BTC News from 深潮 TechFlow, June 16, the head of digital asset research at VanEck, Matthew Sigel, warns that at least one Bitcoin inventory company ($SMLR) is approaching trading at net asset value. He noted that continuing to raise funds through the market to purchase Bitcoin in this situation will dilute rather than create value for shareholders. Sigel suggests that the company establish protective mechanisms, including suspending issuances when the stock price is below net asset value, prioritizing stock buybacks, and adjusting the executive compensation structure. He calls on the board of directors to take timely action and avoid repeating the mistakes of mining companies by overissuing shares and the high salaries of executives.