How much Bitcoin backing does your whole portfolio represent? Add the BTC you hold and the backing behind your treasury stocks.
EXAMPLE PORTFOLIO · EDIT TO MAKE IT YOURS
Your holdings
₿
Direct BitcoinBTC you hold directly
BTC
Treasury stocks
3 / 3
shares
shares
shares
Coverage: MSTR, ASST and MPJPY. Enter common shares or MPJPY ADRs; preferred stocks are excluded. Combine lots of the same stock into one position.
USD
Illustrative price, not a live quote. Converts dollar claims and cash into BTC equivalents. Gross backing stays the same when this price changes.
PORTFOLIO BTC EXPOSURE
Gross backing
0.50965902BTC equivalent · before senior claims
Net backing CEBE
—BTC equivalent · after claims, offset by cash
Full totals require valid holdings and complete data for every active position. Net backing unavailable for ASST. Available position values appear below; missing values are not counted as zero.
Net senior-claim adjustment— BTC
Your share of debt + preferred claims − cash, converted at the BTC price assumption.
Where your gross backing comes from
BTC 49.1%MSTR 39.4%ASST 5.3%MPJPY 6.2%
Stock backing is an economic equivalent, not Bitcoin you own or can redeem. These totals are not your portfolio’s market value or a forecast of price sensitivity.
Company inputs use different reporting dates. MSTR retains a historical capital estimate; MPJPY uses a dashboard estimate with fixed FX; ASST carries a dated debt disclosure. Review dates and source assumptions ↓
POSITION BY POSITION
The backing behind your total.
All values in BTC equivalents
Swipe across the table to compare gross, net and source dates →
Direct BTC + sum of (your shares × company BTC ÷ company common shares).
Net BTC backing · CEBE
Direct BTC + sum of (your shares × [company BTC − (debt + preferred claims − cash) ÷ BTC price] ÷ company common shares).
Direct BTC contributes equally to both. Stock calculations use the same share count and snapshot for gross and net. A price change revalues dollar claims in BTC terms; it does not change the company’s BTC holdings.
Dates, source inputs & methodology
Companies report on different dates, so this is a combined view of dated snapshots, not a synchronized current portfolio valuation. Missing data remains unavailable. Zero-share positions contribute zero. Fractional common shares are supported; short positions are excluded.
Uses basic/effective common shares and unconverted senior claims, consistent with the site’s CEBE model. Options and potential conversion shares, operating assets, other liabilities, accrued or future dividends, taxes and expenses are excluded. Cash offsets can make net backing exceed gross backing. Signed negative backing is retained; this is not a liquidation waterfall.
Strategy · MSTR
Dated estimate · 2026-08-30 · Basic common shares
Company BTC
845,050
Common shares
420,483,000
Debt (USD)
6,714,000,000
Preferred claims (USD)
14,803,000,000
Cash offset (USD)
6,714,000,000
Dated estimate using the site's capital-structure ledger. Debt, preferred and cash amounts require a refreshed primary-source reconciliation before this can be treated as current CEBE.
The latest disclosure is 2026-09-20; this calculation retains the complete 2026-08-30 snapshot, including its share count. Subsequent capital changes are not included.
Cash offset includes USD Reserve plus treasury USD Cash, which Strategy defines separately. This is not total balance-sheet cash.
BTC holdings disclosure ↗ · 2026-08-30 BTC holdings; capital amounts are the existing ledger estimate, not all independently established by this filing.
Strategy share counts ↗ · 2026-08-30 Basic common shares, rounded as reported; no assumed conversion.
Strategy cash definitions ↗ · 2026-08-30 USD Cash excludes USD Reserve; the two ledger amounts are added once.
Strive · ASST
Inputs incomplete · 2026-09-18 · Effective common shares (Class A + B)
Company BTC
26,355
Common shares
97,002,649
Debt (USD)
—
Preferred claims (USD)
1,118,416,000
Cash offset (USD)
229,600,000
Cash includes cash and cash equivalents. STRC investment holdings are excluded; this differs from Strive's NTAV, which includes them.
Debt needs a dated source for this reporting period; net metrics are unavailable until it is supplied.
Strive holdings and shares ↗ · 2026-09-18 BTC, Class A + B shares, cash and SATA shares. SATA claim = shares × $100 stated preference; excludes future dividends.
Metaplanet ADR · MPJPY
Dated estimate · 2026-09-11 · Basic common shares
Company BTC
43,000
Common shares
1,364,282,624
Debt (USD)
464,065,700
Preferred claims (USD)
153,757,055.7
Cash offset (USD)
12,000,000
Dashboard-based estimate using the September 11 treasury snapshot. Debt uses the dashboard's latest treasury balance, not its separate instrument-history total; debt and cash have not been independently reconciled to financial statements.
MERCURY = 23,610,000 preferred shares × ¥1,000 liquidation preference × $0.00651237 per yen. The FX snapshot was retrieved September 13, 2026; the provider does not identify its observation time. The conversion is fixed, not a live FX quote.
Basic ordinary shares only; MERCURY is deducted as a claim and is not also counted as converted common shares. One MPJPY ADR represents one ordinary share. Accrued preferred dividends and other liabilities are excluded.
Metaplanet dashboard capital snapshot ↗ · 2026-09-11 Public data used by analytics.metaplanet.jp: latest BTC, basic shares, debt and cash. Retrieved September 13, 2026.
MERCURY terms ↗ · 2025-12-29 23,610,000 shares; ¥1,000 liquidation preference, distinct from the ¥900 issue price.
Metaplanet analytics ↗ · 2026-09-13 Preferred USD value and USD-per-JPY conversion from the retrieved dashboard snapshot; FX observation time unspecified.