Bitcoin Exposure Calculator
Calculate the implicit Bitcoin per share embedded in a position in MSTR, MARA, COIN, RIOT, METAPLANET, BTCB or any other tracked Bitcoin treasury company. Enter the number of shares and the calculator converts it into the equivalent BTC and satoshis.
The Bitcoin Exposure Calculator estimates your Bitcoin exposure by multiplying the company's Bitcoin per share by the number of shares your investment buys.
How the Calculator Works
Pick a treasury company and enter an investment amount in US dollars. The calculator fetches the company's live share price, derives the share count that amount implies, then converts that into Bitcoin exposure using the company's current Bitcoin holdings and shares outstanding. It also displays the share price and the implied share count, so the figure is fully transparent and useful for comparing the Bitcoin delivered per dollar across different treasury companies.
How Bitcoin Per Share Works
Bitcoin per share is a key metric for a Bitcoin treasury company. It is calculated by dividing the company's total Bitcoin holdings by its shares outstanding. If a company holds 800,000 BTC and has 330 million shares, each share represents roughly 0.00242 BTC. Multiply that by a share count to get the implied Bitcoin exposure. It is one input among several, since debt, convertible notes, preferred shares, and other senior claims also affect what each share actually represents.
The metric matters because a treasury company is, in large part, a wrapper around its Bitcoin. Two things move Bitcoin per share over time, and they pull in opposite directions. The first is Bitcoin accumulation: when a company raises capital and buys more BTC, the numerator grows and Bitcoin per share rises. The second is share dilution: when a company issues new shares through at-the-market offerings or stock compensation, the denominator grows and Bitcoin per share falls, even if total holdings are unchanged. Convertible notes do not immediately add to the share count, but they represent potential future dilution if and when they convert.
The goal of a well-run treasury company is accretive issuance: raising money at a share price high enough that the new Bitcoin bought per share exceeds the dilution per share, so Bitcoin per share climbs over time. This is why investors track Bitcoin per share rather than just total holdings, since a company can grow its stack while shrinking the Bitcoin behind each share, which would leave individual shareholders worse off. Because both holdings and share counts change frequently, this calculator pulls live shares-outstanding data and current holdings for each company rather than relying on fixed numbers, so the figure reflects the company's most recent reported position.
Supported Bitcoin Treasury Companies
The calculator supports more than 100 publicly listed Bitcoin treasury companies across the United States, Japan, Europe, and Asia. Each company below links to its live holdings page on HodlingBTC. Select any of them in the calculator above to see the current Bitcoin per share and exposure.
- MSTRStrategyUS
- XXITwenty One CapitalUS
- MPJPYMetaplanet Inc.JP
- MARAMARA Holdings, Inc.US
- BSTRBitcoin Standard Treasury CompanyUS
- BLSHBullishUS
- COINCoinbase Global, Inc.US
- RIOTRiot Platforms, Inc.US
- ASSTStriveUS
- HUTHut 8 Mining CorpUS
- CLSKCleanSpark, Inc.US
- TSLATesla, Inc.US
- DJTTrump Media & Technology Group Corp.US
- XYZBlock, Inc.US
- GDCGD Culture GroupUS
- ABTCAmerican Bitcoin CorpUS
- GLXYGalaxy Digital Holdings LtdUS
- NXTTNext Technology Holding Inc.CN
- BRRProCap FinancialUS
- NAKANakamoto IncUS
- GEMIGemini Space Station IncUS
- 0434Boyaa Interactive International LimitedHK
- OBTC3OranjeBTCBR
- ADEBitcoin Group SEDE
- ALCPBCapital BFR
- EMPDEmpery DigitalUS
- SWCThe Smarter Web Company PLCUK
- DDCDDC Enterprise LimitedUS
- CORZCore ScientificUS
- KEELKeel Infrastructure CorpCA
- DEFIDeFi TechnologiesCA
- BTGOBitGo Holdings, Inc.US
- HOLOMicrocloud HologramKY
- CANCanaan Inc.SG
- FUFUBitFuFu Inc.SG
- 3659NEXON Co., Ltd.JP
- CIFRCipher MiningUS
- 3825RemixpointJP
- 3189Anap Holdings Inc.JP
- SQNSSequansFR
- TRSRTreasuryNL
- H100H100 GroupSE
- ZOOZZOOZ PowerIL
- CANGCango IncUS
- KULRKULR Technology GroupUS
- APUSApimeds Pharmaceuticals US, Inc.US
- USBCUSBC, Inc.US
- NANano LabsCN
- MSWMing Shing GroupHK
- FLDFold Holdings Inc.US
- YDKGYueda Digital HoldingsCN
- SOSSOS LimitedCN
- FIGFigma IncUS
- 6574Convano IncJP
- BTCTBitcoin Treasury CorpCA
- AKERAker ASANO
- IMGCIMG IncHK
- GPUSHyperscale DataUS
- SATSSatsuma TechnologyUK
- EXODExodus Movement, IncUS
- ARLPAlliance Resource Partners, L.P.US
- MLIZYMéliuzBR
- MELIMercadoLibre, Inc.AR
- 377030bitmaxKR
- SRAGSamara Asset GroupMT
- FIGRFigure Technology Solutions, IncUS
- PHXPhoenix Group PLCAE
- DCCDigitalXAU
- HIVEHIVE Digital TechnologiesCA
- UUU3U Holding AGDE
- NDANeptune Digital AssetsCA
- VIRTVirtu Financial, Inc.US
- DMGIDMG Blockchain Solutions Inc.CA
- NTHOLNet Holding A.S.TR
- CMSGConsensus Mining & SeigniorageUS
- LMFALM Funding AmericaUS
- ANGXAngel Studios, Inc.US
- 049470BitplanetKR
- CPOPPOP Culture Group Co., Ltd.CN
- 5721S-ScienceJP
- NCTYThe9 LimitedCN
- LQWDLQWD Technologies Corp.CA
- CSCoinshares International LimitedJE
- 112040WEMADEKR
- VANAVanadi Coffee, SAES
- RUMRumble Inc.CA
- 288330Parataxis KoreaKR
- 36CBTCS S.A.PL
- BMNRBitMineUS
- COIN.AQCoinsiliumGI
- MATAMatador Technologies IncCA
- BTCBBitcoin Treasury CapitalSE
- K33K33 ABNO
- HODLB HODLUK
- BTC.BKThe Brooker GroupTH
- FRMOFRMO Corp.US
- SIXSixty-Six Capital IncCA
- V3TCVaultz CapitalUK
- HKHCHorizon Kinetics Holding CorpUS
- 7603Mac HouseJP
Frequently Asked Questions
What is Bitcoin per share?
Bitcoin per share is a company's total Bitcoin holdings divided by its shares outstanding. It tells you how much BTC effectively backs a single share. For example, if a company holds 40,000 BTC and has 1.28 billion shares, each share represents about 0.0000314 BTC. It is the clearest way to compare Bitcoin treasury companies, because total holdings alone ignore how many shares those holdings are spread across. Keep in mind that Bitcoin per share is only one measure. A full picture also depends on factors such as debt, convertible notes, preferred shares, and other obligations that affect what each share actually represents.
Do these shares give direct Bitcoin ownership?
No. The company holds the Bitcoin on its balance sheet. Shareholders hold equity in the company. The economic value of that equity depends on the company's Bitcoin, operating business, and other assets, minus its debt and any senior claims such as preferred stock. Shareholders do not own the debt and do not have a direct claim on the Bitcoin. The underlying Bitcoin cannot be withdrawn. This calculator estimates look-through exposure only.
Why does Bitcoin per share change over time?
Two forces move it. When a company buys more Bitcoin, its holdings rise and Bitcoin per share increases. When a company issues new shares, through at-the-market programs or stock compensation, the share count rises and Bitcoin per share falls, even if holdings are unchanged. Convertible debt does not immediately raise the share count, but it represents potential future dilution if and when the notes convert into shares. A company can therefore grow its total Bitcoin while reducing the Bitcoin behind each share, which is why this tool uses live holdings and shares-outstanding data rather than static figures.
Which is better: MSTR or holding Bitcoin directly?
It depends on your goals, and this is not investment advice. Holding Bitcoin directly delivers the asset itself, with self-custody and no company risk. A treasury stock such as MSTR provides exposure inside a regulated equity wrapper, which can trade at a premium or discount to the Bitcoin held and may add leverage, dilution, and business risk. A stock can be convenient in a brokerage or retirement account, but it can move very differently from spot Bitcoin. Compare Bitcoin per share and the premium before deciding.
How accurate is this calculator?
The calculator uses live Bitcoin prices, live share prices, and the most recent shares-outstanding data available for each company. Holdings come from each company's latest reported figures. Because reported holdings, share counts, and prices change continuously and data providers can lag, results are estimates for general information only. Always verify the underlying numbers against a company's official filings before making any decision.
Can I trust the data?
HodlingBTC is an independent tracker that aggregates public data from sources including SEC EDGAR, company filings, press releases, public market data, and Coinbase. We are not affiliated with or endorsed by any company listed, and the site provides information only, not investment advice. Data may be delayed, incomplete, or inaccurate and should be independently verified before use. The calculator shows the holdings, share count, and price behind every result so you can check the math.