Roxom’s in-depth research reports. Data-driven, neutral, and comprehensive analyses of Bitcoin capital markets. Built on hard numbers and rigorous methodology, they provide the clearest window into market structure and macro dynamics of the new capital markets.
Research Reports
1. Strategy (MSTR): Q1 2026 Analytical Report Strategy’s Q1 2026 report reinforces a thesis that is now less about proving the viability of a Bitcoin treasury model and more about proving the durability of that model at institutional scale. As of March 31, 2026, the company held 762,099
Research Reports
-> Read Part 1 -> Read Part 2 Governance, Risk Management & Controls H100’s novel strategy brings unique risks. The company has moved swiftly, but management appears mindful of building robust governance around its treasury. Key elements: Board & Oversight: The Board of Directors (Chairman Jonatan Raknes,
Research Reports
-> Read Part 1 Valuation & mNAV Analytics At its core, valuing H100 Group comes down to valuing its Bitcoin holdings – and then assessing the premium/discount the market assigns relative to those holdings (the market-to-NAV multiple, mNAV). Traditional metrics like P/E are not meaningful yet (H100 has
Research Reports
Executive Summary Thesis: H100 Group AB is leveraging its dual identity as a health-tech operator and Bitcoin treasury to maximize BTC per share growth – effectively becoming Sweden’s “MicroStrategy-equivalent” with a Nordic twist. In just 104 days since pivoting to a Bitcoin reserve strategy, H100’s holdings surged above 1,
Research Reports
Welcome to Roxom Research Report - 3R, the weekly digest where we analyze assets and companies shaping the Bitcoin economy. At Roxom, our mission is to build and develop the first capital market fully denominated in Bitcoin, giving investors the tools to trade, hedge, and allocate capital through a Bitcoin