USBCvsBLSH
USBC, Inc. vs Bullish
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
USBC
BLSH
BTC holdings
1,010 BTC
21,430 BTC
Market value of BTC
$66.6M
$1.4B
Average cost per BTC
$114,372.83
—
Total cost basis
$115.6M
—
mNAV (market cap ÷ BTC value)
2.05×
2.91×
Sats per share
260
14.2k
Last disclosed purchase
5/13/2026
- 5/13/2026+1,010 BTC$67.2M
- 5/14/2026+190 BTC$0.00
- 3/10/2026+-1,010 BTC$0.00
- 3/10/2026+0 BTC$0.00
- 11/19/2025+80 BTC$0.00
USBC vs BLSH: frequently asked
Which company holds more Bitcoin, USBC or BLSH?▾
Bullish (BLSH) holds 21,430 BTC, compared to USBC, Inc.'s (USBC) 1,010 BTC — roughly 21.2× more.
What's the total Bitcoin value on the balance sheets of USBC and BLSH?▾
USBC holds $66.6M worth of Bitcoin at current market prices. BLSH holds $1.4B.
Who has a lower cost basis per BTC, USBC or BLSH?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did USBC last buy Bitcoin?▾
USBC disclosed a 1,010 BTC purchase on May 13, 2026.
When did BLSH last buy Bitcoin?▾
BLSH disclosed a 190 BTC purchase on May 14, 2026.