Model Inputs
1yr5yr10yr
0.5x5.0x
Projected Market Cap (mNAV-adjusted)
Historical BTC Yield (BTC/share growth)
Source: Strategy earnings releases. Since inception avg: ~30.7%/yr
2021
47.3%
2022
1.8%
2023
7.3%
2024
74.3%
2025
22.8%
2026 YTD
2.1%
Sensitivity: Yield vs BTC Price (Market Cap at Y5, 2.0x mNAV)
| Yield \ Price | $100K | $150K | $200K | $300K | $500K | $1M |
|---|---|---|---|---|---|---|
| 5% | $194.3B | $291.4B | $388.5B | $582.8B | $971.3B | $1.94T |
| 10% | $245.1B | $367.7B | $490.3B | $735.4B | $1.23T | $2.45T |
| 15% | $306.2B | $459.2B | $612.3B | $918.5B | $1.53T | $3.06T |
| 20% | $378.8B | $568.1B | $757.5B | $1.14T | $1.89T | $3.79T |
| 25% | $464.5B | $696.8B | $929.0B | $1.39T | $2.32T | $4.65T |
| 30% | $565.2B | $847.7B | $1.13T | $1.70T | $2.83T | $5.65T |
| 40% | $818.6B | $1.23T | $1.64T | $2.46T | $4.09T | $8.19T |