USBC, Inc. (USBC) — Market Cap vs Bitcoin NAV
USBC, Inc. (USBC) currently trades at a market cap vs Bitcoin NAV ratio of 2.01x, which means the market values the company at 101.1% premium to the underlying Bitcoin holdings. With 1,000 Bitcoin on its balance sheet worth $62,713,315 at the live spot price, and a market capitalisation of $126,145,500, USBC holds rank #42 of 70 tracked Bitcoin treasury companies by this metric on HodlingBTC.
How USBC's Market Cap vs Bitcoin NAV Is Calculated
The market cap vs Bitcoin NAV ratio for USBC, 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 USBC today the inputs are a market cap of $126,145,500, 1,000 BTC, and a Bitcoin spot price of 62,713. The resulting ratio of 2.01x quantifies how much premium (or premium, when above 1.0x) the equity market is assigning to USBC 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 2.01x Means for USBC, Inc. Shareholders
USBC, Inc.'s ratio of 2.01x places the stock at a 101.1% 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 USBC.
USBC vs Other Bitcoin Treasury Companies
How USBC compares against the 4 companies ranked closest by market cap vs Bitcoin NAV ratio on HodlingBTC's live tracker:
| # | TICKER | COMPANY | HQ | RATIO |
|---|---|---|---|---|
| 40 | MARA | MARA Holdings, Inc. | 🇺🇸 | 2.08x |
| 41 | FLD | Fold Holdings Inc. | 🇺🇸 | 2.03x |
| 42 | USBC | USBC, Inc. | 🇺🇸 | 2.01x |
| 43 | FUFU | BitFuFu Inc. | 🇸🇬 | 1.99x |
| 44 | 3825 | Remixpoint | 🇯🇵 | 1.83x |
See the full ranking for every public Bitcoin treasury company on the Market Cap vs Bitcoin NAV page.
Frequently Asked Questions
What is USBC, Inc. (USBC)'s market cap vs Bitcoin NAV ratio?
USBC, Inc. trades at a market cap vs Bitcoin NAV ratio of 2.01x, calculated as its market capitalisation of $126,145,500 divided by the value of its 1,000 BTC holdings ($62,713,315 at the current Bitcoin spot price). This represents a 101.1% premium to the underlying Bitcoin NAV.
Why is USBC trading at a premium to its Bitcoin NAV?
premium values reflect the market's view of USBC, 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 USBC's market cap vs Bitcoin NAV updated on HodlingBTC?
The ratio for USBC 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 USBC, Inc.'s SEC or primary-source filings.