CBTCvsMSTR
21Shares Bitcoin Core ETP vs Strategy
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.
CBTC
21Shares Bitcoin Core ETP
🇨🇭 CH
3,730 BTC
$245.3M market value
MSTR
Strategy
🇺🇸 US
845,256 BTC
$55.6B market value
Metric
CBTC
MSTR
BTC holdings
3,730 BTC
845,256 BTC
Market value of BTC
$245.3M
$55.6B
Average cost per BTC
—
$75,683.00
Total cost basis
—
$64.0B
mNAV (market cap ÷ BTC value)
—
0.74×
Sats per share
—
No tracked purchases yet
- 6/8/2026+1,550 BTC$101.3M
- 6/1/2026+-32 BTC-$2.5M
- 5/18/2026+24,869 BTC$2.0B
- 5/11/2026+535 BTC$43.0M
- 4/27/2026+3,273 BTC$255.0M
CBTC vs MSTR: frequently asked
Which company holds more Bitcoin, CBTC or MSTR?▾
Strategy (MSTR) holds 845,256 BTC, compared to 21Shares Bitcoin Core ETP's (CBTC) 3,730 BTC — roughly 226.6× more.
What's the total Bitcoin value on the balance sheets of CBTC and MSTR?▾
CBTC holds $245.3M worth of Bitcoin at current market prices. MSTR holds $55.6B.
Who has a lower cost basis per BTC, CBTC or MSTR?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did CBTC last buy Bitcoin?▾
CBTC's last BTC purchase isn't in our tracked history yet.
When did MSTR last buy Bitcoin?▾
MSTR disclosed a 1,550 BTC purchase on June 8, 2026.