Percent of BTC Stack

Percent of BTC Stack shows how much of the current global bitcoin supply (or the company’s own total historical purchases) a company controls through its present BTC holdings, expressed as a percentage.

The company’s BTC as a percentage of all bitcoin in existence (usually measured against the current circulating supply, which approaches 21 million BTC but is slightly less due to lost coins and unmined supply).

The company’s BTC as a percentage of its own all-time BTC acquisitions (helpful for measuring changes if it has ever sold, lost, or otherwise consumed part of the stack).

Formula: As a percent of global supply: Percent of BTC Stack = (BTC in Treasury ÷ Global BTC Supply) × 100% As a percent of own cumulative stack: Percent of BTC Stack = (BTC in Treasury ÷ Total BTC Ever Acquired by Company) × 100%

Why Does This Metric Matter?

1. Market Influence and Scale Seeing what fraction of the scarce and finite supply of bitcoin is concentrated in a single company’s hands offers direct insight into their market heft and potential influence.

2. Scarcity Premium Bitcoin’s value is fundamentally driven by its limited issuance. A company accumulating a visible percent of the total supply becomes more compelling for investors seeking true “scarcity exposure.”

3. Comparing Companies, Apples-to-Apples Percent of BTC Stack allows instant, size-agnostic comparison between firms: regardless of their sector, age, or share price, you can see who controls more of the bitcoin pie.