Coinbase (COIN) vs Bullish (BLSH)
Side-by-side Bitcoin treasury comparison: holdings, market cap, mNAV ratio, BTC per share, cost basis, and recent purchases. Numbers refresh every 5 minutes from SEC filings and live market data.
Metric
COIN
BLSH
BTC holdings
14,548
24,300
Market value of BTC
$1.1B
$1.9B
Average cost per BTC
$35,634.00
—
Total cost basis
$518.4M
—
mNAV (market cap ÷ BTC value)
35.24×
1.05×
Sats per share
6.5k
16.1k
Last disclosed purchase
2/12/2026
—
Country
🇺🇸 US
🇺🇸 US
- 2/12/2026+841$75.0M
- 10/30/2025+2,682$300.0M
- 7/30/2025+2,509$222.0M
- 5/9/2025+267$25.4M
- 12/31/2022+1,127$23.7M
No tracked purchases yet
COIN vs BLSH: frequently asked
Which company holds more Bitcoin, COIN or BLSH?▾
Bullish (BLSH) holds 24,300 BTC, compared to Coinbase's (COIN) 14,548 BTC.
What's the total Bitcoin value on the balance sheets of COIN and BLSH?▾
COIN holds $1.1B worth of Bitcoin at current market prices. BLSH holds $1.9B.
Who has a lower cost basis per Bitcoin, COIN or BLSH?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did COIN last buy Bitcoin?▾
COIN disclosed a 841 BTC purchase on February 12, 2026.
When did BLSH last buy Bitcoin?▾
BLSH's last BTC purchase isn't in our tracked history yet.