The Bitcoin Treasury Scoreboard

Compare Bitcoin per share, its growth, and the premium you pay.

Latest filingsMSTR+811 BTC · STRC buybacksASST+124 BTCSWCAwaiting updateView breakdown

BTC/share leaderboard

How to read the numbers
Comparison options

Company default uses each issuer’s reported basis: ASST effective common, MSTR ADSO, Metaplanet effective diluted, and SWC issuer diluted. SWC’s issued-ordinary option includes unsold ATM shares; its issuer-diluted method excludes that inventory. The basic-share option uses ASST’s effective common shares. Diluted includes potential shares under each company’s method. CEBE estimates backing after debt and preferred claims, offset by cash.

Week of Nov 2, 2026 · Latest weekly updates ranked first

Bitcoin treasury companies compared by latest reporting round, then comparable weekly BTC/share change. Share-count methods and periods differ.
Company
1$ASSTStrive33,868Effective common · Oct 30+0.29%Oct 23–30, 2026—Loading…
Effective common · Oct 23–30, 2026
2$MSTRStrategy187,443ADSO · Nov 1-0.16%Oct 25–Nov 1, 2026—Loading…
ADSO · Oct 25–Nov 1, 2026
Other reporting periods
$SWCThe Smarter Web Company768Issuer diluted · BTC Oct 23 · shares Oct 22+2.41%Sep 30–Oct 23, 2026Nonweekly—Loading…
Issuer diluted · Sep 30–Oct 23, 2026
BTC Oct 23 · shares Oct 22
$MPJPYMetaplanet2,933effective diluted · Sep 30+11.30%Q3 through Sep 30, 2026Nonweekly—Loading…
effective diluted · Q3 through Sep 30, 2026

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Sources & methodology

BTC/share represents Bitcoin held divided by the applicable share count. Whole numbers use satoshis (100 million = 1 Bitcoin). ASST uses effective common shares, MSTR uses ADSO, Metaplanet uses effective diluted shares, and SWC uses its issuer-diluted method by default. These methods and reporting periods differ. Sats/share uses the displayed snapshot dates; a percentage change measures its own stated reporting period. SWC combines October 23 BTC with the latest October 22 share count; its +2.41% change is issuer-reported QTD growth from September 30, not a weekly return. SWC mNAV and CEBE are unavailable pending verified GBP pricing and capital inputs.

BTC/share change ranks comparable weekly changes in the newest Monday–Sunday publication round. Weekly comparisons span 6–8 days, must end within seven days of publication and within three days of the newest period in that round. Older, nonweekly and unavailable comparisons remain visible without a weekly rank. The round follows the latest available disclosures, not the current calendar week. Changing the sats/share or mNAV calculation does not change the reported percentage.

Gross mNAV uses stock market value divided by Bitcoin holdings at the available Bitcoin price. Net mNAV uses the CEBE model after debt and preferred claims, with cash added back; it is unavailable for nonpositive net backing. Company figures come from dated disclosures; market values load separately and may be delayed or unavailable. Open a company for its sources and calculation details.

BTC/share guide · mNAV guide
Behind the numbers

What drove this week’s change?

Week of Nov 2, 2026
$ASSTStrive
+0.29%BTC/share change
BTC acquired+124
Sats/share33,771 → 33,868

Strive added 124 BTC. Effective shares rose by 2,763 and AFDS held flat. Bitcoin per share rose 0.29% on both bases.

Effective commonOct 23–30, 2026
$MSTRStrategy
-0.16%BTC/share change
BTC acquired+811
STRC repurchased$208.2M
Sats/share187,752 → 187,443

The MSTR ATM raised $164.0M. Strategy used $65.5M to buy bitcoin and allocated $98.5M to USD Cash. ADSO rose faster than holdings, bringing gross backing down to 187,443 sats per diluted share.

ADSOOct 25–Nov 1, 2026
$SWCThe Smarter Web Company
+2.41%QTD BTC/share change
BTC acquired+20
Sats/share750 → 768

Issuer-reported +2.41% QTD gross BTC/share, September 30–October 23; not a weekly return. Diluted backing rose about 0.41% since October 15 after ordinary ATM sales.

Issuer dilutedSep 30–Oct 23, 2026 · Non-weekly period
View the figures, reporting periods & sources
Latest disclosed BTC/share change. Periods and share bases differ; this is not a same-period performance comparison.
CompanyPeriod endingShare basisSats/share beforeSats/share afterChangeDisclosure
ASSTOct 23–30, 2026Effective common33,77133,868+0.29%Company disclosure ↗
MSTROct 25–Nov 1, 2026ADSO187,752187,443-0.16%Company disclosure ↗
SWCSep 30–Oct 23, 2026Issuer diluted750768+2.41%Company disclosure ↗

Link to this breakdown · Updates with the latest covered disclosures; save the displayed dates when citing it.

BTC acquired shows disclosed purchases; sats/share also reflects changes in holdings and the share count. Buybacks show the amount spent when disclosed. Each card uses its company’s reported basis and period.

Latest researchView all research →
Strategy raised $164 million. 40% went to Bitcoin. BTCperShare filing analysis for November 2, 2026, with a gold bitcoin beside a stack of coins.
FILING ANALYSIS · STRATEGY (MSTR / STRC)

Strategy Raised $164 Million Selling MSTR. Only 40% Went to Bitcoin.

Strategy bought 811 BTC and repurchased $208.2 million of STRC. Gross bitcoin backing fell 0.165% per assumed diluted MSTR share.

Nov 2 2026 · Read filing analysis →
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