Bitcoin Treasury Capital (BTC AB) (BTCB) — Market Cap vs Bitcoin NAV
Bitcoin Treasury Capital (BTC AB) (BTCB) currently trades at a market cap vs Bitcoin NAV ratio of 0.67x, which means the market values the company at 32.7% discount to the underlying Bitcoin-innehav. With 174 Bitcoin on its balance sheet worth $14,076,267 at the live spot price, and a market capitalisation of $9,470,638, BTCB holds rank #59 of 68 tracked Bitcoin treasury companies by this metric on HodlingBTC.
How BTCB's Market Cap vs Bitcoin NAV Is Calculated
The market cap vs Bitcoin NAV ratio for Bitcoin Treasury Capital (BTC AB) is computed as the company's market capitalisation divided by the product of its disclosed Bitcoin-innehav and the Bitcoin spot price. At the last update the inputs for BTCB were a market cap of $9,470,638, 174 BTC, and a Bitcoin spot price of 80,898. The resulting ratio of 0.67x quantifies how much discount (or premium, when above 1.0x) the equity market is assigning to BTCB 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 0.67x Means for Bitcoin Treasury Capital (BTC AB) Shareholders
Bitcoin Treasury Capital (BTC AB)'s ratio of 0.67x places the stock at a 32.7% discount to its Bitcoin NAV. Discounts to Bitcoin NAV typically reflect concerns that common shareholders may not capture the full value of the underlying Bitcoin. Common causes include senior debt and preferred share claims that sit above common stock in the capital structure, dilution risk from at-the-market equity programs, operating losses that consume Bitcoin-innehav, or simply low trading liquidity that prevents the equity from pricing efficiently to NAV. 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 BTCB.
BTCB vs Other Bitcoin Treasury Companies
How BTCB compares against the 4 companies ranked closest by market cap vs Bitcoin NAV ratio on HodlingBTC's tracker:
| # | TICKER | BOLAG | HUVUDKONTOR | KVOT |
|---|---|---|---|---|
| 57 | SWC | The Smarter Web Company PLC | 🇬🇧 | 0.75x |
| 58 | ZOOZ | ZOOZ Power | 🇮🇱 | 0.72x |
| 59 | BTCB | Bitcoin Treasury Capital (BTC AB) | 🇸🇪 | 0.67x |
| 60 | MPJPY | Metaplanet Inc. | 🇯🇵 | 0.66x |
| 61 | XXI | Twenty One Capital | 🇺🇸 | 0.61x |
See the full ranking for every public Bitcoin treasury company on the Market Cap vs Bitcoin NAV page.
Vanliga fragor
What is Bitcoin Treasury Capital (BTC AB) (BTCB)'s market cap vs Bitcoin NAV ratio?
Bitcoin Treasury Capital (BTC AB) trades at a market cap vs Bitcoin NAV ratio of 0.67x, calculated as its market capitalisation of $9,470,638 divided by the value of its 174 BTC holdings ($14,076,267 at the last recorded Bitcoin spot price). This represents a 32.7% discount to the underlying Bitcoin NAV.
Why is BTCB trading at a discount to its Bitcoin NAV?
discount values reflect the market's view of Bitcoin Treasury Capital (BTC AB) beyond its Bitcoin-innehav alone. A discount can reflect concerns about dilution risk, debt obligations senior to common shareholders, operating losses, or limited liquidity in the underlying stock.
How often is BTCB'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 Bitcoin Treasury Capital (BTC AB)'s SEC or primary-source filings.