PHXvsMSTR
Phoenix Group PLC 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.
Metric
PHX
MSTR
BTC holdings
641 BTC
843,775 BTC
Market value of BTC
$41.0M
$53.9B
Average cost per BTC
$65,230.69
$75,476.00
Total cost basis
$41.8M
$63.7B
mNAV (market cap ÷ BTC value)
—
0.61×
Sats per share
1.7k
235.8k
Last disclosed purchase
Dec 31, 2025
- Dec 31, 2025+-300 BTC$26.5M
- Sep 30, 2025+-100 BTC$11.4M
- Jul 6, 2026+-3,588 BTC$216.0M
- Jun 22, 2026+520 BTC$34.9M
- Jun 15, 2026+1,587 BTC$100.0M
PHX vs MSTR: frequently asked
Which company holds more Bitcoin, PHX or MSTR?▾
Strategy (MSTR) holds 843,775 BTC, compared to Phoenix Group PLC's (PHX) 641 BTC — roughly 1316.3× more.
What's the total Bitcoin value on the balance sheets of PHX and MSTR?▾
PHX holds $41.0M worth of Bitcoin at current market prices. MSTR holds $53.9B.
Who has a lower cost basis per BTC, PHX or MSTR?▾
PHX's average cost is $65,230.69 per BTC. MSTR's is $75,476.00. PHX is the lower cost basis.
When did PHX last buy Bitcoin?▾
PHX disclosed a -300 BTC purchase on December 31, 2025.
When did MSTR last buy Bitcoin?▾
MSTR disclosed a -3,588 BTC purchase on July 6, 2026.