Bitcoin: Treasury Company Analytics - Strategy

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Definitions

Measured in BTC satoshis. 1BTC = 100,000,000 satoshis.

Satoshis per Company Shares.

Bitcoin per share indicates how much bitcoin the company is holding relative to the number of company shares.

A Bitcoin Treasury strategy typically seeks to acquire more bitcoin per share over time.

Note: Some companies report this metric using fully diluted shares outstanding. To provide a more current viewpoint and up-to-date data, we use Market Cap.

NAV (Net Asset Value)

A measure of a company's total value, calculated by subtracting its liabilities from its assets. For a company, it’s essentially the book value—what shareholders would theoretically receive if all assets were sold and debts paid off.

Premium to NAV

The amount by which the market price of a share exceeds its NAV per share, expressed as a percentage. It happens when investors are willing to pay more for the share than the underlying value of the assets, often due to strong demand, perceived growth potential, or market sentiment.

In the case of Bitcoin Treasury Companies, this Premium to NAV often occurs when there is an expectation from the market that the company will acquire more bitcoin in the near future.

BTC Yield

Note: Some companies report this metric using fully diluted shares outstanding. To provide a more current viewpoint we use Market Cap.

A Bitcoin Treasury strategy typically seeks to acquire more bitcoin per share over time. Therefore, an increase in the BTC Yield indicates how well the company is executing against that strategy.