Figma Inc (FIG) — Market Cap vs Bitcoin NAV
Figma Inc (FIG) currently trades at a market cap vs Bitcoin NAV ratio of 167x, which means the market values the company at 16646.4% premium to the underlying Bitcoin holdings. With 1,016 Bitcoin on its balance sheet worth $82,192,454 at the live spot price, and a market capitalisation of $13,764,299,000, FIG holds rank #7 of 68 tracked Bitcoin treasury companies by this metric on HodlingBTC.
How FIG's Market Cap vs Bitcoin NAV Is Calculated
The market cap vs Bitcoin NAV ratio for Figma Inc is computed as the company's market capitalisation divided by the product of its disclosed Bitcoin holdings and the Bitcoin spot price. At the last update the inputs for FIG were a market cap of $13,764,299,000, 1,016 BTC, and a Bitcoin spot price of 80,898. The resulting ratio of 167x quantifies how much premium (or premium, when above 1.0x) the equity market is assigning to FIG beyond the value of the underlying Bitcoin treasury. A ratio above 1.0x means the company is trading at a premium to the value of its Bitcoin stash; below 1.0x means a discount. The number does not account for operating businesses, capital structure, debt, preferred shares, or other liabilities that sit between common shareholders and the underlying Bitcoin.
What 167x Means for Figma Inc Shareholders
Figma Inc's ratio of 167x places the stock at a 16646.4% premium to its Bitcoin NAV. When investors pay a premium for a Bitcoin treasury equity, the additional value typically reflects the company's operating business, ability to issue new shares accretively, exposure to future Bitcoin acquisition, or simply the convenience of holding Bitcoin exposure inside a regulated equity wrapper. Premiums can compress quickly if dilution accelerates or if the underlying Bitcoin acquisition slows. The ratio is one input among several; capital structure, debt obligations, share class differences, and operating cash flow all influence what shareholders actually receive per share of FIG.
FIG vs Other Bitcoin Treasury Companies
How FIG compares against the 4 companies ranked closest by market cap vs Bitcoin NAV ratio on HodlingBTC's tracker:
| # | TICKER | COMPANY | HQ | RATIO |
|---|---|---|---|---|
| 5 | AKER | Aker ASA | 🇳🇴 | 209x |
| 6 | FIGR | Figure Technology Solutions, Inc | 🇺🇸 | 188x |
| 7 | FIG | Figma Inc | 🇺🇸 | 167x |
| 8 | CIFR | Cipher Mining | 🇺🇸 | 136x |
| 9 | RUM | Rumble Inc. | 🇨🇦 | 127x |
See the full ranking for every public Bitcoin treasury company on the Market Cap vs Bitcoin NAV page.
Frequently Asked Questions
What is Figma Inc (FIG)'s market cap vs Bitcoin NAV ratio?
Figma Inc trades at a market cap vs Bitcoin NAV ratio of 167x, calculated as its market capitalisation of $13,764,299,000 divided by the value of its 1,016 BTC holdings ($82,192,454 at the last recorded Bitcoin spot price). This represents a 16646.4% premium to the underlying Bitcoin NAV.
Why is FIG trading at a premium to its Bitcoin NAV?
premium values reflect the market's view of Figma Inc beyond its Bitcoin holdings alone. A premium typically indicates investors are paying extra for the company's operating business, capital structure access, optionality on future Bitcoin accumulation, or the convenience of equity exposure to BTC.
How often is FIG's market cap vs Bitcoin NAV updated on HodlingBTC?
The figures on this page are a snapshot, recalculated a few times each trading day rather than quoted live. Bitcoin spot price is sourced from Coinbase, market capitalisation from the latest available share count multiplied by the most recent stock price, and BTC holdings from the most recent disclosed figure in Figma Inc's SEC or primary-source filings.