BTC Holdings
9,542.16 BTC
180d
Stock Price
$9.39
180d
Total financing
947.39M USD
180d
mNAV
4.23x
180d
Leverage
120.4%
180d
BTC Credit
>9,999 bps0.8x
Sats/Share
3,140
180d
Mkt capFD
2.85B USD
SharesFD
303.86M
Fiat reserve
134.56M USD
Total reserve
809.70M USD
Dilution
9.8%
Coverage
1590.1 yr
BTC mix
99%
Analytics
BTC Coverage
Financials
US-GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$2.6B▲180.3%
Total Liabilities$982.8M▲3879.5%
Stockholders' Equity$1.6B▲80.2%
Cash & Equivalents$134.6M▼21.0%
Total Debt$947.1M▲19712.1%
Digital Assets$904.4M
Income Statement
Revenue$3.7M▲1.8%
Operating Income$-573M▼208.0%
Net Income$-712.3M▼77.7%
Interest Expense$27.3M▲785.1%
Cash Flow
Operating Cash Flow$14.8M▲124.2%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| DJT-May28 | May '25 – May '28 | 0% | 1.00B USD | 941.89M USD | 34.72 USD | 0.8x |
| Total | 941.89M USD | |||||
Recent Changes
Wed, Feb 25, 2026
Shares Outstanding
280.0M→276.7M-3.3M(-1.2%)
Form 10-K (FY 2025)
Wed, Dec 31, 2025
BTC Holdings
11.5K→9.5K-2,000 BTC(-17.3%)
2,000 BTC derecognized in Q4 2025 (cost basis $174.8M)
Form 10-K (FY 2025)Debt OutstandingDJT-May28
945.6M→941.9M-3.8M(-0.4%)
Form 10-K (FY 2025)
Debt OutstandingIssuanceDJT-WC-TL
5.5M
$5,000K due 2026 + $500K due 2027; carrying value $5,223.1K
Form 10-K (2025)Fiat Reserve
166.1M→134.6M-31.5M(-19.0%)USD
Form 10-K (FY 2025)
Wed, Nov 5, 2025
Shares Outstanding
280.0M
Form 10-Q (Q3 2025) — cover page