The Bitcoin Treasury Scoreboard

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

Latest filingsMSTRSTRC buybacksASST+6,182 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 Oct 26, 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$ASSTStrive33,771Effective common · Oct 23+13.80%Oct 16–23, 2026—Loading…
Effective common · Oct 16–23, 2026
2$MSTRStrategy187,752ADSO · Oct 25-0.00%Oct 18–25, 2026—Loading…
ADSO · Oct 18–25, 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 Oct 26, 2026
$ASSTStrive
+13.80%BTC/share change
BTC acquired+6,182
Sats/share29,677 → 33,771

October 16–23: BTC +16.79%; effective common shares +2.63%. Effective BTC/share +13.80%; AFDS BTC/share +13.87%.

Effective commonOct 16–23, 2026
$MSTRStrategy
-0.00%BTC/share change
STRC repurchased$204.9M
Sats/share187,753 → 187,752

No Bitcoin trades or ATM sales. Strategy spent $204.9M buying back STRC; ADSO BTC/share was effectively flat.

ADSOOct 18–25, 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 16–23, 2026Effective common29,67733,771+13.80%Company disclosure ↗
MSTROct 18–25, 2026ADSO187,753187,752-0.00%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 →
BTCperShare feature: Preferreds First for Bitcoin, with an orange Bitcoin coin, STRC plaque and tokenization network globe.
ANALYSIS · STRATEGY (MSTR / STRC / TOKENIZATION)

Strategy Puts Preferreds First for Bitcoin Buying. Tokenization Could Expand the Market.

Strategy puts preferred stock first for Bitcoin accumulation. What the MSTR ATM, STRC recovery and tokenization mean for common shareholders.

Oct 30 2026 · Read analysis →
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