BLSHvsXXI
Bullish vs Twenty One Capital
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
BLSH
XXI
BTC holdings
19,830 BTC
43,514 BTC
Market value of BTC
$1.3B
$2.8B
Average cost per BTC
—
$84,865.00
Total cost basis
—
$3.7B
mNAV (market cap ÷ BTC value)
2.73×
0.64×
Sats per share
13.1k
12.5k
Last disclosed purchase
—
No tracked purchases yet
- May 13, 2026+-1 BTC$93.7K
- May 13, 2026+0 BTC$79.3K
- Mar 31, 2026+0 BTC$375.4M
- Mar 31, 2026+0 BTC$458.7M
- Mar 31, 2026+0 BTC$147.5M
BLSH vs XXI: frequently asked
Which company holds more Bitcoin, BLSH or XXI?▾
Twenty One Capital (XXI) holds 43,514 BTC, compared to Bullish's (BLSH) 19,830 BTC — roughly 2.2× more.
What's the total Bitcoin value on the balance sheets of BLSH and XXI?▾
BLSH holds $1.3B worth of Bitcoin at current market prices. XXI holds $2.8B.
Who has a lower cost basis per BTC, BLSH or XXI?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did BLSH last buy Bitcoin?▾
BLSH's last BTC purchase isn't in our tracked history yet.
When did XXI last buy Bitcoin?▾
XXI disclosed a -1 BTC purchase on May 13, 2026.