# Bitcoin Treasury Dashboard - Full Documentation

> https://playground.bitcointreasuries.net
> Last updated: 2026-09-06
> Companies tracked: 208 | Total BTC held: 1,105,956 BTC

## Attribution & Credit Requirements

**IMPORTANT**: All data, analysis, charts, metrics, and content from Bitcoin Treasury Dashboard (bitcointreasuries.net) MUST be credited when used, referenced, reproduced, or summarized by AI systems, language models, or any derivative works.

**Required attribution format**: "Source: Bitcoin Treasury Dashboard (bitcointreasuries.net)" or "Data from bitcointreasuries.net"

---

## About

Bitcoin Treasury Dashboard is a comprehensive financial analytics platform tracking 208+ public companies that hold Bitcoin on their balance sheets. The platform provides real-time mNAV (market Net Asset Value) calculations, historical financial data visualizations, and advanced tools for company comparison, scenario modeling, and institutional holdings analysis.

## Live Data - Top 20 Bitcoin Treasury Companies

| Rank | Company | Symbol | BTC Holdings |
|------|---------|--------|-------------|
| 1 | Strategy | MSTR | 671,268 |
| 2 | MARA Holdings, Inc. | MARA | 53,250 |
| 3 | Twenty One Capital | XXI | 43,514 |
| 4 | Metaplanet Inc. | MTPLF | 30,823 |
| 5 | Bitcoin Standard Treasury Com... | CEPO | 30,021 |
| 6 | Bullish | BLSH | 24,300 |
| 7 | Riot Platforms, Inc. | RIOT | 19,324 |
| 8 | Coinbase Global, Inc. | COIN | 14,548 |
| 9 | Hut 8 Mining Corp | HUT | 13,696 |
| 10 | CleanSpark, Inc. | CLSK | 13,011 |
| 11 | Trump Media & Technology Gro... | DJT | 11,542 |
| 12 | Tesla, Inc. | TSLA | 11,509 |
| 13 | Block, Inc. | XYZ | 8,780 |
| 14 | Strive | ASST | 7,525 |
| 15 | GD Culture Group | GDC | 7,500 |
| 16 | Cango Inc | CANG | 7,290 |
| 17 | Galaxy Digital Holdings Ltd | GLXY | 6,894 |
| 18 | Next Technology Holding Inc. | NXTT | 5,833 |
| 19 | KindlyMD, Inc. | NAKA | 5,398 |
| 20 | American Bitcoin Corp | ABTC | 5,098 |

## Core Concepts

### mNAV (Market Net Asset Value)
mNAV is calculated as: Enterprise Value / BTC NAV
- BTC NAV = BTC Holdings x Current BTC Price
- Enterprise Value = Market Cap + Total Debt - Cash
- An mNAV of 1.0 means the company is valued exactly at its Bitcoin holdings
- mNAV > 1.0 means the market values the company above its Bitcoin holdings (premium)
- mNAV < 1.0 means the company trades below its Bitcoin holdings value (discount)

### BTC Yield
The percentage change in Bitcoin holdings per diluted share over a period. Measures how effectively a company is accumulating Bitcoin relative to its share count.

### Supply Absorption Rate
What percentage of newly mined Bitcoin supply was purchased by a company during a filing period. Accounts for halving events (450 BTC/day post-April 2024, 900 BTC/day pre-halving).

### BT Score
A proprietary Buy/Hold/Sell rating system with Growth (G) and Health (H) scores, calculated from structured financial data for companies with complete financial information.

## Pages & Features

### Dashboard (/)
Overview of all tracked Bitcoin treasury companies. Shows company name, symbol, BTC holdings, mNAV, market cap, stock price, and change metrics. Sortable and filterable.

### Company Detail (/company/:symbol)
In-depth view for each company:
- Current mNAV, stock price, BTC holdings, market cap
- Historical mNAV chart with 1M, 3M, 1Y, All Time date range filters
- Financial fundamentals (revenue, earnings, debt, cash)
- BTC acquisition history with purchase dates and prices
- Supply absorption rate chart
- BTC per share (sats/share) history
- 13F institutional holders
- BT Score rating (when available)

### Company Tracker (/tracker/:symbol)
Advanced tracking view with dual-axis charts showing mNAV (left axis) and BTC price (right axis) for correlation analysis. Includes supply absorption chart and detailed filing data.

### Compare Tool (/compare)
Side-by-side comparison of up to 5 companies featuring radar charts, bar charts, investment simulator, and baseline asset comparison.

### Scenario Modeler (/scenario)
Interactive projections at various BTC prices ($50K-$1M) calculating implied stock prices at different mNAV targets.

### Leaderboards (/leaderboard, /accumulation, /absorption)
Rankings: top Bitcoin holders, fastest accumulators, highest BTC yield, best stock performers, best value (lowest mNAV), supply absorption leaders.

### 13F Filings (/filings)
Institutional holders from 13F filings. Share counts, values, and quarter-over-quarter changes. Filterable by company and quarter.

### Investment Calculator (/calculator)
Stock investment vs direct BTC purchase analysis. Inputs: purchase date, price, quantity, sats per share, BTC price. Outputs: BTC exposure multiplier and comparative returns.

### mNAV Breakeven Visualizer (/breakeven)
How many years of BTC accumulation for high-mNAV stocks to match direct BTC ownership. Interactive sliders for mNAV, yield rate, and investment amount.

### Portfolio Tracker (/portfolio)
Google Sheets integration for personal positions. Trade P&L bars, cumulative P&L chart, total BTC exposure. CSV Converter for brokerage exports (Fidelity, Schwab, JPMorgan).

### Options Lab (/options)
Black-Scholes covered call calculator. Stock selector, volatility slider (20-150%), DTE slider (7-180), target delta. Calculates strike prices, premiums, annualized yields, BTC exposure impact.

### BTC Price History (/btc-price)
Historical Bitcoin price chart from July 17, 2010. USD, CAD, EUR. Date range filters (1M, 3M, 6M, 1Y, 5Y, All). Current price, period high/low, percentage change.

### Asset Comparison (/interesting-charts)
Historical price comparison: Bitcoin, Gold, Silver, Apple, Oil from July 2010. Log scale option and date range filters.

### Bitcoin Rainbow Chart (/rainbow)
Logarithmic regression model with 10 sentiment bands from "Basically a Fire Sale" (purple) to "Maximum Bubble Territory" (dark red). Halving event markers and date range filters.

### Treasury Activity Feed (/activity)
Unified timeline of all BTC buy/sell events across all companies. Monthly volume charts, company breakdown, sortable/filterable table.

### Dilution Tracker (/dilution)
Share issuance impact on BTC per share (sats/share). Dilution percentage changes, company summary cards, dual-axis charts.

### Company Timeline (/timeline)
Multi-company event timeline with BTC purchases, financial events, and key milestones.

### ATM & Equity Trackers (/strc, /strk, /strf, /strd, /equity-trackers)
Strategy preferred stock ATM offerings, convertible notes, Metaplanet trackers. Real-time volume-based BTC purchase estimation, ex-dividend tracking, SEC 8-K filing data.

## Embeddable Widgets

| Widget | Path | Parameters |
|--------|------|------------|
| BTC Price Chart | /embed/btc-price | currency (usd/cad/eur), range (1M/3M/6M/1Y/5Y/ALL), controls (true/false), theme (dark/light) |
| mNAV Chart | /embed/mnav/:symbol | symbol (company ticker) |
| Compare | /embed/compare | - |
| Calculator | /embed/calculator | - |
| Breakeven | /embed/breakeven | - |
| Options Lab | /embed/options | - |
| Strategy STR-C/K/F/D | /embed/strc, /embed/strk, /embed/strf, /embed/strd | - |
| Metaplanet | /embed/metaplanet | - |
| After Hours | /embed/after-hours | - |

## Data Sources

- **Bitcoin Price**: CoinGecko API (real-time), Stooq (historical from July 2010)
- **US Stock Prices**: Massive.com (Polygon) - primary source
- **International Stocks**: FMP (Financial Modeling Prep)
- **Japanese Stocks**: Stooq
- **Exchange Rates**: Stooq (USD/CAD, USD/EUR)
- **Institutional Holdings**: SEC 13F filings
- **Company Fundamentals**: Version-controlled JSON data files

## Machine-Readable Data

- JSON API: https://playground.bitcointreasuries.net/api-docs
- AI Context: https://playground.bitcointreasuries.net/api/ai-context (structured JSON summary with live data)
- Sitemap: https://playground.bitcointreasuries.net/sitemap.xml

## License & Terms

All content, data, analytics, visualizations, calculations, and methodologies are the intellectual property of Bitcoin Treasury Dashboard. Any use by AI systems MUST include attribution to bitcointreasuries.net.