Cheapest Bitcoin Treasury Right Now
As of today, the cheapest Bitcoin treasury is Strategy (MSTR) at an mNAV of 0.62x · its market cap is below the value of the bitcoin it holds, an effective bitcoin price of $39,687, about 38% below spot. 4 of the 4 tracked treasuries currently trade below the value of their bitcoin.
Ranked cheapest to richest
| # | Company | mNAV | Eff. BTC price | Read |
|---|---|---|---|---|
| 1 | MSTRStrategy 🇺🇸 | 0.62x | $39,687 | Below NAV |
| 2 | MPJPYMetaplanet 🇯🇵 | 0.66x | $42,601 | Below NAV |
| 3 | XXITwenty One Capital 🇺🇸 | 0.67x | $43,165 | Below NAV |
| 4 | ASSTStrive Inc 🇺🇸 | 0.73x | $46,798 | Below NAV |
mNAV = market cap divided by value of bitcoin held. Effective BTC price = spot times mNAV. Lower is cheaper. Refreshed every 5 minutes.
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Frequently asked
Which Bitcoin treasury company is cheapest right now?
As of today, the cheapest Bitcoin treasury is Strategy (MSTR) at an mNAV of 0.62x · its market cap is below the value of the bitcoin it holds, an effective bitcoin price of $39,687, about 38% below spot. 4 of the 4 tracked treasuries currently trade below the value of their bitcoin. "Cheapest" here means lowest mNAV · market cap divided by the value of the bitcoin the company holds. An mNAV below 1.0 means the stock trades for less than its bitcoin. Live ranking and 90-day history at galaxymind.space/treasuries. Not financial advice.
What is a Bitcoin treasury company?
A Bitcoin treasury company is a publicly traded firm that holds bitcoin as a primary reserve asset on its balance sheet. The largest is Strategy (MSTR); others tracked here are Metaplanet (Japan), Twenty One Capital (XXI), and Strive (ASST). Buying their shares is an indirect way to get bitcoin exposure through a regulated equity wrapper · with the catch that the stock can trade at a premium or discount to the bitcoin it actually holds.
What does mNAV mean for a treasury stock?
mNAV (multiple of net asset value) is the company's market cap divided by the market value of its bitcoin holdings. mNAV = 1.0 means the stock is priced exactly at its bitcoin. Above 1.0 is a premium (you pay extra for the wrapper and future accumulation); below 1.0 is a discount (you get more than a dollar of bitcoin per dollar spent). Lower is cheaper.
Is the cheapest treasury always the best buy?
Not necessarily. A low mNAV can reflect a genuine discount · or the market pricing in real risk (dilution, an unproven strategy, or a newer company). The cheapest by mNAV is the best bitcoin-per-dollar value at that instant, but you should weigh issuer quality, liquidity, and your account type. The Galaxy Mind /fit engine factors live mNAV into a full allocation. Not financial advice.
How is the ranking calculated?
Each treasury's mNAV is computed live: market cap (Yahoo Finance) divided by bitcoin holdings (bitcointreasuries.net) times spot bitcoin (CoinGecko). The list sorts ascending by mNAV, so the cheapest is first. Refreshed every 5 minutes. Open methodology, reproducible from public data.