GBTCvsMSTR
Grayscale Bitcoin Trust 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.
GBTC
Grayscale Bitcoin Trust
🇺🇸 US
135,664 BTC
$8.7B market value
MSTR
Strategy
🇺🇸 US
843,775 BTC
$53.9B market value
Metric
GBTC
MSTR
BTC holdings
135,664 BTC
843,775 BTC
Market value of BTC
$8.7B
$53.9B
Average cost per BTC
—
$75,476.00
Total cost basis
—
$63.7B
mNAV (market cap ÷ BTC value)
—
0.61×
Sats per share
19.6k
235.8k
- Jul 13, 2026+-17 BTC$1.0M
- Jul 10, 2026+-5.58 BTC$357.2K
- Jul 9, 2026+-1,029 BTC$65.0M
- Jul 8, 2026+-5.62 BTC$349.9K
- Jul 8, 2026+-1,026 BTC$63.7M
GBTC vs MSTR: frequently asked
Which company holds more Bitcoin, GBTC or MSTR?▾
Strategy (MSTR) holds 843,775 BTC, compared to Grayscale Bitcoin Trust's (GBTC) 135,664 BTC — roughly 6.2× more.
What's the total Bitcoin value on the balance sheets of GBTC and MSTR?▾
GBTC holds $8.7B worth of Bitcoin at current market prices. MSTR holds $53.9B.
Who has a lower cost basis per BTC, GBTC or MSTR?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did GBTC last buy Bitcoin?▾
GBTC disclosed a -17 BTC purchase on July 13, 2026.
When did MSTR last buy Bitcoin?▾
MSTR disclosed a -3,588 BTC purchase on July 6, 2026.