Figma Inc (FIG) — Market Cap vs Bitcoin NAV
Figma Inc (FIG) currently trades at a market cap vs Bitcoin NAV ratio of 234x, which means the market values the company at 23341.5% premium to the underlying Bitcoin holdings. With 767 Bitcoin on its balance sheet worth $48,101,113 at the live spot price, and a market capitalisation of $11,275,629,200, FIG holds rank #6 of 70 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 live Bitcoin spot price. For FIG today the inputs are a market cap of $11,275,629,200, 767 BTC, and a Bitcoin spot price of 62,713. The resulting ratio of 234x 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 234x Means for Figma Inc Shareholders
Figma Inc's ratio of 234x places the stock at a 23341.5% 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 live tracker:
| # | TICKER | COMPANY | HQ | RATIO |
|---|---|---|---|---|
| 4 | BMNR | BitMine | 🇺🇸 | 639x |
| 5 | VIRT | Virtu Financial, Inc. | 🇺🇸 | 373x |
| 6 | FIG | Figma Inc | 🇺🇸 | 234x |
| 7 | FIGR | Figure Technology Solutions, Inc | 🇺🇸 | 227x |
| 8 | CORZ | Core Scientific | 🇺🇸 | 199x |
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 234x, calculated as its market capitalisation of $11,275,629,200 divided by the value of its 767 BTC holdings ($48,101,113 at the current Bitcoin spot price). This represents a 23341.5% 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 ratio for FIG refreshes every five minutes during European and US market hours. Bitcoin spot price is sourced from Coinbase live, market capitalisation is recalculated from the latest available share count multiplied by the current stock price, and BTC holdings are taken from the most recent disclosed figure in Figma Inc's SEC or primary-source filings.