DVLT 🛡️- 🎯 4 💲-Why the market is missing the massive BTC and AI play here (10-K analysis)

I’ve been digging into the $DVLT 10-K from March 18, and it’s wild how much the market is overlooking. Everyone is focused on the 11% move, but the actual balance sheet is the real story.

Think about this: they are basically an AI-focused MicroStrategy. They’re still HODLing approximately 1,365 BTC from the Scilex deal as a strategic reserve. If you value that BTC at today’s prices, it covers a huge portion of their entire market cap.

The fundamentals are shifting fast. They just reported $33.8M in Q4 revenue, driven by IP licensing and RWA (like the Coppercoin deal). Most importantly, they hit GAAP profitability last quarter.

With $116M in working capital and zero long-term debt, they have a massive runway to scale their AI supercomputer and data exchanges. Maxim Group’s $4 price target starts to make a lot of sense when you realize the market is currently pricing this like the Bitcoin and patents don’t even exist.