Coinbase (COIN) vs Strategy (MSTR)
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
MSTR
BTC holdings
14,548
815,061
Market value of BTC
$1.1B
$63.6B
Average cost per BTC
$35,634.00
$75,577.00
Total cost basis
$518.4M
$59.0B
mNAV (market cap ÷ BTC value)
35.25×
1.18×
Sats per share
6.5k
250.1k
Last disclosed purchase
2/12/2026
4/19/2026
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
- 4/19/2026+34,164$2.5B
- 4/13/2026+13,927$1.0B
- 4/6/2026+4,871$330.0M
- 3/23/2026+1,031$77.0M
- 3/16/2026+22,337$1.6B
COIN vs MSTR: frequently asked
Which company holds more Bitcoin, COIN or MSTR?▾
Strategy (MSTR) holds 815,061 BTC, compared to Coinbase's (COIN) 14,548 BTC.
What's the total Bitcoin value on the balance sheets of COIN and MSTR?▾
COIN holds $1.1B worth of Bitcoin at current market prices. MSTR holds $63.6B.
Who has a lower cost basis per Bitcoin, COIN or MSTR?▾
COIN's average cost is $35,634.00 per BTC. MSTR's is $75,577.00. COIN is the lower cost basis.
When did COIN last buy Bitcoin?▾
COIN disclosed a 841 BTC purchase on February 12, 2026.
When did MSTR last buy Bitcoin?▾
MSTR disclosed a 34,164 BTC purchase on April 19, 2026.