MSTR & ASST
Treasury stock price estimator.
Explore a future share price. See what it takes to get there.
Your assumptions
Your assumed Bitcoin price at the end of this period.
Growth in Bitcoin backing each share, accounting for new shares issued.
BTC/share stays unchanged over 2 years.
1× values a share at its gross Bitcoin backing, before debt and preferred claims.
Disclosed backing · 26-11-01. Debt and preferred claims are not deducted.
Loading available quotes. You can enter your own assumptions.
Reference prices & returns
Optional for the price estimate. Used for returns and the Bitcoin comparison.
Scenario input
Scenario input
Backing, claims & sources
Share basis: ADSO. BTC/share growth already includes dilution. Additional financing can also change net claims per share.
Company disclosureESTIMATED MSTR SHARE PRICE
Enter a future Bitcoin price to start your estimate.
Add a reference share price to see returns.
Hypothetical scenario, not a price forecast.
Uses the BTC/share view. Change graph view ↓
Growth over time
Enter valid price assumptions to see your scenario develop over time.
What if the assumptions change?
Estimated MSTR share prices. Tap a cell to use that BTC price and multiple.
The scenario table appears once your price assumptions are valid.
Solve for a target share price
Choose a target. Find the Bitcoin price or valuation multiple it would require.
See the price calculation
Future gross BTC/share = starting BTC/share × (1 + annual growth) ^ years. Multiply by the future Bitcoin price and the gross backing multiple.
Methodology & assumptions
The price estimator and Bitcoin comparison use the same valuation calculation. A future price estimate does not require an investment amount or market quote. Returns use the reference share price; annualized return is (estimated price ÷ reference price) ^ (1 ÷ years) − 1.
For gross valuation, modeled share price = projected gross BTC/share × future BTC price × ending gross multiple. For net CEBE valuation, subtract the assumed ending net claims per basic/effective share before applying the net multiple. Net claims = unconverted debt + preferred claims − cash. Net claims per share stay constant unless edited. BTC/share growth already includes dilution. Financing that grows gross BTC/share may also create new senior claims.
CEBE is the site’s basic/effective-share model, not Strategy’s conversion-sensitive Net BPS or issuer mNAV. Net claims are not combined with a diluted share denominator here. Nonpositive net backing is unavailable, not a negative stock-price prediction. A 1× multiple is a scenario reference, not a fair-value guarantee or price floor.
The comparison invests equal dollars once, allows fractional units, and holds the initial positions. Direct BTC = investment ÷ starting BTC price. Shares = investment ÷ reference share price. Other assets and liabilities, shareholder dividends, taxes, fees, custody costs and additional contributions are excluded. The chart illustrates smooth assumptions between endpoints; it is not a forecast. Quote and disclosure dates may differ. MSTR and ASST scenario links preserve their assumptions, including links made with the previous calculator.
Understand gross and net valuationWhy can a treasury stock lag Bitcoin?
A shrinking premium can offset growth in Bitcoin backing per share. Using gross Bitcoin backing in a hypothetical one-year scenario with an unchanged Bitcoin price, 20% BTC/share growth and a multiple falling from 2× to 1×, the modeled stock value becomes 1.2 × 1 ÷ 2 = 0.6 of its starting value: a 40% decline. Change the assumptions above to compare other outcomes; this is not a return forecast.
Understand mNAV and valuation premiums →