According to online reports, Matthew Sigel, director of digital asset research at VanEck, warned that at least one Bitcoin Inventory Company ($SMLR) is currently trading close to net asset value parity. He pointed out that in this case, continuing to raise funds to purchase Bitcoin through market issues would dilute rather than create shareholder value. Sigel suggested that the company establish protective mechanisms, including suspending issuance when the stock price is below net value, giving priority to repurchase shares, and adjusting executive compensation structures. He called on the board to take timely action to avoid repeating the mistakes of excessive stock issuance and excessive executive compensation by mining companies.