BTCperShare
MSTR TO BTC CALCULATOR

How much Bitcoin does your position represent?

Calculate Bitcoin backing for your MSTR, ASST, Metaplanet, SWC or XXI shares—and see how the same share count has changed over time.

This measures the Bitcoin backing represented by shares, not how much BTC their market value could buy. It is not an exchange or a right to redeem shares for Bitcoin.

01

Your position

Backing basis

Fractional shares are supported.

ADSO includes the company’s reported diluted share adjustments.

02

Your BTC equivalent

100 MSTR shares · ADSO

0.187748 BTC

18,774,800 sats equivalent

Sats per share
187,748
Snapshot as of
Oct 4, 2026

A measure of Bitcoin backing represented by shares, not Bitcoin you own or can redeem.

Explore a path to 1 BTC →

HISTORICAL BACKING

Same shares. Changing Bitcoin backing.

100 MSTR shares · ADSO · Split-adjusted

Through Oct 4, 2026
Dec 31, 20200.056598 BTCStarting gross backing
Oct 4, 20260.187748 BTCEnding gross backing
Over this period+231.7%BTC per share
BTC represented by the same 100 shares49 reported observations

Steps connect reported snapshots. Ranges look back from the latest disclosure; the first available report in that window is the starting point.

Share the change.Export this period with the same share count and basis.

Historical values & methodology

Uses a fixed, split-adjusted share count where applicable. It does not model purchases, investment returns or daily changes between disclosures. History availability varies by basis. Gross backing excludes debt and preferred claims.

DateSats/shareBTC equivalent
Dec 31, 202056,5980.056598
Dec 31, 202183,3530.083353
Dec 31, 202284,8740.084874
Dec 31, 202391,0970.091097
Dec 31, 2024158,8260.158826
Dec 31, 2025194,985.7490.19498575
Jan 5, 2026194,942.3090.19494231
Jan 12, 2026195,173.820.19517382
Jan 20, 2026195,726.2150.19572622
Jan 26, 2026195,689.1370.19568914
Feb 2, 2026195,563.0470.19556305
Feb 9, 2026195,545.90.1955459
Feb 17, 2026195,876.4210.19587642
Feb 23, 2026195,874.6680.19587467
Mar 2, 2026195,770.520.19577052
Mar 9, 2026197,254.7840.19725478
Mar 16, 2026201,692.9030.2016929
Mar 23, 2026201,695.1310.20169513
Mar 31, 2026201,169.6420.20116964
Apr 6, 2026202,140.080.20214008
Apr 13, 2026205,811.7190.20581172
Apr 20, 2026213,597.1260.21359713
Apr 27, 2026213,644.1480.21364415
May 4, 2026213,370.6360.21337064
May 11, 2026213,391.0630.21339106
May 18, 2026219,626.7790.21962678
May 26, 2026220,900.4230.22090042
Jun 1, 2026220,429.2030.2204292
Jun 8, 2026220,015.8690.22001587
Jun 15, 2026219,359.5680.21935957
Jun 22, 2026218,045.7880.21804579
Jun 29, 2026211,157.1290.21115713
Jun 30, 2026210,8240.210824
Jul 6, 2026210,263.5470.21026355
Jul 13, 2026207,775.690.20777569
Jul 20, 2026206,387.7410.20638774
Jul 24, 2026203,682.9620.20368296
Aug 3, 2026201,821.8510.20182185
Aug 10, 2026198,288.7810.19828878
Aug 17, 2026196,684.1250.19668412
Aug 24, 2026188,627.5440.18862754
Aug 30, 2026187,7510.187751
Aug 31, 2026187,751.3390.18775134
Sep 7, 2026187,7390.187739
Sep 8, 2026187,738.5730.18773857
Sep 13, 2026187,7420.187742
Sep 20, 2026187,9550.187955
Sep 27, 2026187,7120.187712
Oct 4, 2026187,7480.187748

What this number means

Shares × sats per share ÷ 100,000,000 = BTC equivalent. Current SWC calculations retain the full holdings/share-count ratio; other gross calculations use the displayed sats/share precision. CEBE uses the full net sats/share calculation; the display is rounded. Every result uses your selected basis.

Gross BTC/share does not subtract debt or preferred claims. Explore net backing with CEBE →

Data behind the result

Historical values come from the site’s filing ledger, with Strategy’s official history for MSTR ADSO and sampled issuer chart observations for SWC diluted history. SWC’s older chart observations are rounded to whole sats/share. Missing values are not replaced with another share basis.

Company snapshot source ↗Additional company data ↗Additional company data ↗

Analytical backing measure. Not a stock-price target or financial advice.

What does the Bitcoin equivalent mean?

A hypothetical position of 100 shares at 10,000 sats per share represents 1,000,000 sats, or 0.01 BTC of gross backing. Changing the share basis can change that result. This is an analytical comparison; holding stock does not give you the right to redeem the company’s Bitcoin.

See the Bitcoin-per-share formula and share-basis definitions →