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Bullish

#7 in public BLSH public

Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity.

Bitcoin Holdings

Total Bitcoin ₿ 23,300 BTC
% of 21M Supply 0.111%
Current Value $1,502,727,442
Cost Basis $1,928,127,389
ROI -22.06%
% of Company 39.7%
mNAV 2.61x
BTC/Share ₿ 0.00015416 BTC
Market Cap $3,785,142,784
Enterprise Value $3,919,729,784
Latest Purchase Dec 31, 2025
Avg. cost / BTC $82,752

Bullish Stock Priced in BTC

0.000389 BTC

Bullish Bitcoin Holdings Over Time

₿ 23,300 BTC

Bitcoin Acquisitions History

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Company financial detail

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Frequently Asked Questions

Common questions about Bullish's Bitcoin holdings

How much Bitcoin does Bullish hold?

Bullish currently holds 23,300 BTC, which represents 0.111% of the total Bitcoin supply (21 million). This makes them the 7th largest public Bitcoin holder.

What is the current value of Bullish's Bitcoin holdings?

As of today, Bullish's Bitcoin holdings are worth approximately $1,502,727,442. This represents 39.7% of the company's total market value.

What is Bullish's average cost basis for Bitcoin?

Bullish's average cost basis for their Bitcoin purchases is $1,928,127,389 per Bitcoin. Their current return on investment (ROI) is -22.06%.

When did Bullish last buy Bitcoin?

Bullish's most recent Bitcoin purchase was Dec 31, 2025. View purchase details

What type of company is Bullish?

Bullish is a public company in the Technology sector and Software - Infrastructure industry with approximately 394 employees .

What is Bullish's market capitalization?

Bullish has a market capitalization of approximately $3,785,142,784 and annual revenue of $300,720,992 .

What is Bullish's mNAV?

Bullish's mNAV (Market-to-Net Asset Value) is 2.61x, comparing the company's market value to its Bitcoin holdings value. An mNAV of 1.0 means market value equals Bitcoin stash, while >1.0 indicates a premium for the company's Bitcoin strategy.

What is Bullish's market cap and enterprise value?

Bullish has a market capitalization of $3,785,142,784 and an enterprise value of $3,919,729,784. Enterprise value represents the total company value including debt and cash, providing a more complete valuation picture than market cap alone.

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