MARKET CAP VS BITCOIN NAV
A selection of public companies holding Bitcoin on their balance sheets, ranked by market cap divided by BTC holdings multiplied by the Bitcoin spot price at the last update. Above 1.0 indicates a premium to BTC NAV, while below 1.0 indicates a discount. Premiums may also reflect operating businesses, non treasury assets, lower Bitcoin exposure, capital structure, liquidity, or other company specific factors rather than Bitcoin holdings alone.
| # | TICKER | COMPANY | HQ | RATIO ▾ |
|---|
| 1 | MELI | MercadoLibre, Inc. | 🇦🇷 | 2457x |
| 2 | TSLA | Tesla, Inc. | 🇺🇸 | 1614x |
| 3 | SPCX | SpaceX | 🇺🇸 | 1251x |
| 4 | BMNR | BitMine | 🇺🇸 | 752x |
| 5 | VIRT | Virtu Financial, Inc. | 🇺🇸 | 351x |
| 6 | CORZ | Core Scientific | 🇺🇸 | 215x |
| 7 | FIG | Figma Inc | 🇺🇸 | 213x |
| 8 | AKER | Aker ASA | 🇳🇴 | 199x |
| 9 | FIGR | Figure Technology Solutions, Inc | 🇺🇸 | 189x |
| 10 | RUM | Rumble Inc. | 🇨🇦 | 148x |
| 11 | CIFR | Cipher Mining | 🇺🇸 | 108x |
| 12 | 3659 | NEXON Co., Ltd. | 🇯🇵 | 96.53x |
| 13 | HIVE | HIVE Digital Technologies | 🇨🇦 | 86.74x |
| 14 | ARLP | Alliance Resource Partners, L.P. | 🇺🇸 | 79.71x |
| 15 | XYZ | Block, Inc. | 🇺🇸 | 70.20x |
| 16 | HKHC | Horizon Kinetics Holding Corp | 🇺🇸 | 60.97x |
| 17 | COIN | Coinbase Global, Inc. | 🇺🇸 | 40.02x |
| 18 | ANGX | Angel Studios, Inc. | 🇺🇸 | 38.10x |
| 19 | FRMO | FRMO Corp. | 🇺🇸 | 29.88x |
| 20 | 112040 | WEMADE | 🇰🇷 | 26.55x |
| 21 | HUT | Hut 8 Mining Corp | 🇺🇸 | 19.58x |
| 22 | KEEL | Keel Infrastructure Corp | 🇨🇦 | 18.06x |
| 23 | NTHOL | Net Holding A.S. | 🇹🇷 | 17.99x |
| 24 | ABTC | American Bitcoin Corp | 🇺🇸 | 12.59x |
| 25 | CANG | Cango Inc | 🇺🇸 | 10.25x |
| 26 | RIOT | Riot Platforms, Inc. | 🇺🇸 | 8.87x |
| 27 | 6574 | Convano Inc | 🇯🇵 | 5.41x |
| 28 | CLSK | CleanSpark, Inc. | 🇺🇸 | 4.46x |
| 29 | EXOD | Exodus Movement, Inc | 🇺🇸 | 4.05x |
| 30 | DJT | Trump Media & Technology Group Corp. | 🇺🇸 | 3.96x |
| 31 | SRAG | Samara Asset Group | 🇲🇹 | 3.90x |
| 32 | K33 | K33 AB | 🇳🇴 | 3.69x |
| 33 | BTGO | BitGo Holdings, Inc. | 🇺🇸 | 3.45x |
| 34 | 5721 | S-Science | 🇯🇵 | 3.27x |
| 35 | NCTY | The9 Limited | 🇨🇳 | 3.15x |
| 36 | 7603 | Mac House | 🇯🇵 | 2.80x |
| 37 | DMGI | DMG Blockchain Solutions Inc. | 🇨🇦 | 2.80x |
| 38 | 288330 | Parataxis Korea | 🇰🇷 | 2.38x |
| 39 | BLSH | Bullish | 🇺🇸 | 2.33x |
| 40 | MARA | MARA Holdings, Inc. | 🇺🇸 | 2.08x |
| 41 | USBC | USBC, Inc. | 🇺🇸 | 2.04x |
| 42 | KULR | KULR Technology Group | 🇺🇸 | 1.86x |
| 43 | 3825 | Remixpoint | 🇯🇵 | 1.86x |
| 44 | FLD | Fold Holdings Inc. | 🇺🇸 | 1.84x |
| 45 | FUFU | BitFuFu Inc. | 🇸🇬 | 1.81x |
| 46 | GEMI | Gemini Space Station Inc | 🇺🇸 | 1.73x |
| 47 | CPOP | POP Culture Group Co., Ltd. | 🇨🇳 | 1.73x |
| 48 | NDA | Neptune Digital Assets | 🇨🇦 | 1.71x |
| 49 | UUU | 3U Holding AG | 🇩🇪 | 1.45x |
| 50 | GPUS | Hyperscale Data | 🇺🇸 | 0.94x |
| 51 | LQWD | LQWD Technologies Corp. | 🇨🇦 | 0.93x |
| 52 | DCC | DigitalX | 🇦🇺 | 0.86x |
| 53 | ALCPB | Capital B | 🇫🇷 | 0.79x |
| 54 | 0434 | Boyaa Interactive International Limited | 🇭🇰 | 0.79x |
| 55 | SWC | The Smarter Web Company PLC | 🇬🇧 | 0.79x |
| 56 | BTCB | Bitcoin Treasury Capital (BTC AB) | 🇸🇪 | 0.72x |
| 57 | SATS | Satsuma Technology | 🇬🇧 | 0.72x |
| 58 | SIX | Sixty-Six Capital Inc | 🇨🇦 | 0.69x |
| 59 | MPJPY | Metaplanet Inc. | 🇯🇵 | 0.67x |
| 60 | ZOOZ | ZOOZ Power | 🇮🇱 | 0.63x |
| 61 | NA | Nano Labs | 🇨🇳 | 0.61x |
| 62 | ASST | Strive | 🇺🇸 | 0.60x |
| 63 | MSTR | Strategy | 🇺🇸 | 0.59x |
| 64 | ADE | Bitcoin Group SE | 🇩🇪 | 0.57x |
| 65 | XXI | Twenty One Capital | 🇺🇸 | 0.55x |
| 66 | EMPD | Empery Digital | 🇺🇸 | 0.52x |
| 67 | BTCT | Bitcoin Treasury Corp | 🇨🇦 | 0.45x |
| 68 | BRR | ProCap Financial | 🇺🇸 | 0.44x |
| 69 | 3189 | Anap Holdings Inc. | 🇯🇵 | 0.29x |
| 70 | NAKA | Nakamoto Inc | 🇺🇸 | 0.29x |