BTCTC Simulator

B CAPITAL B

Projected share price end of period

Model and formula by
@Bthemoon2030

Projected share price at end of period

—

1Key metrics at end of period

—

NAV

treasury × BTC price

—

Implied market cap

NAV × mNAV

—

Fully diluted shares

—

Sats / share

—

BTC stack

—

mNAV future

your input

—

Months ahead

—

Needed monthly dilution

—

2Inputs

Defaults auto-loaded for Capital B (ALCPB). Override any field freely.

Capital B · current shares + treasury as of 2026-09-08 (post 10:1 split; CB 07-09 KPI) · verify on bitcointreasuries.net

Current fully diluted sharecount

All shares including warrants, OCAs, convertibles.

Current treasury

₿

Current BTC holdings.

Months ahead

months

Projection horizon (max 240 = 20 years).

End of period BTC stack

₿

Your target BTC holdings at the end.

Average mNAV until end of period

Time-average premium-to-NAV used to value share issuance.

Future BTC price

€

BTC price at end of period.

3Monthly projection

Right-side columns: share price at each BTC-price scenario, holding mNAV constant.

↔ vs Capital B Projection

How this tool differs from the Capital B Projection:

mNAV assumption. This tool uses one average mNAV held constant over the entire period. The Capital B Projection ramps mNAV linearly from the current implied level up or down to your target — whether re-rating happens during the run actually matters there.
Capital stack. This tool does not model OCAs, warrants, ATM or any specific instruments. It just computes the monthly dilution rate needed to reach Bₙ. The Capital B Projection simulates month-by-month which instruments are in-the-money, when they convert or exercise, and fills the cash gap with "future instruments".
Time horizon. This tool projects beyond 31-12-2027 — up to 240 months (20 years) — so you can model long-dated targets. The Capital B Projection is locked to the FY26-27 horizon (ending 31-12-2027) because that is where the current capital stack is most relevant.

For scenarios with the actual capital stack → Capital B Projection. For a quick closed-form feasibility check on a BTC target → this tool.

NFA of course, just math — @Bthemoon2030

Model: each month, BTC stack grows linearly from current treasury to end target. Fully diluted sharecount compounds at the monthly dilution rate. NAV_t = treasury_t × BTC_price,t. Share price_t = (NAV_t × mNAV) / shares_t. Sats/share_t = treasury_t × 10⁸ / shares_t. The five right-most columns hold the model's BTC price flat at the column header — useful for "what if BTC just sits at €X" scenarios.