mNAVBitcoin treasury companies
What common shares actually get if the company winds down today
Assumes each company is wound up today: sell BTC, pay every claim in priority order, common shareholders get the residual - compare to current share price.
| Company | Share price | Liquidation value / share | In US$ | % gain on liquidation | Liquidation mNAV | Common's share of BTC | Sats per US$100 | Wipe-out BTC price | Data as of |
|---|---|---|---|---|---|---|---|---|---|
| US | |||||||||
Strategy IncMSTR · Nasdaq · USD | $145.02 | $130.98 | −10% | 1.11x | 78.6% | 108,243 | $17,945 | Oct 21, 2026 | |
Strive, Inc.ASST · Nasdaq · USD | $27.58 | $15.84 | −43% | 1.74x | 64.0% | 68,833 | $30,064 | Oct 16, 2026 | |
| Canada | |||||||||
Bitcoin Treasury CorporationBTCT · TSXV · CAD | C$3.94 | C$6.64 | $4.72 | +68% | 0.59x | 72.1% | 201,851 | $23,248 | Sep 30, 2026 |
LQWD Technologies Corp.LQWD · TSXV · CAD | C$0.690 | C$1.04 | $0.739 | +51% | 0.66x | 100.0% | 180,401 | none | May 31, 2026 |
| International | |||||||||
Metaplanet Inc.3350 · TSE · JPY | ¥275 | ¥338 | $2.14 | +23% | 0.81x | 75.1% | 147,136 | $20,813 | Oct 21, 2026 |
The Smarter Web Company PLCSWC · LSE · GBP | £0.545 | £0.408 | $0.546 | −25% | 1.33x | 85.5% | 89,799 | $12,412 | Oct 15, 2026 |
Capital BALCPB · Euronext Growth · EUR | €5.90 | €5.43 | $6.10 | −8% | 1.09x | 94.0% | 110,322 | none | Sep 30, 2026 |
All figures from company dashboards unless only available from the most recently filed financials. Share and BTC prices refresh from market feeds; claims, share counts and holdings come from each company's latest filings and update releases (Strategy, Strive and Metaplanet: their online dashboards). Liquidation mNAV is share price ÷ liquidation value per share. Wipe-out BTC price is the US$ BTC price below which common receives nothing in a wind-up; "none" means cash alone covers every claim.