Company Metrics
BTC Price
Current price of Bitcoin
$81,920
3121.T BTC Holdings
Bitcoins held on balance sheet
₿17.6
3121.T mNAV (EV)
Enterprise Value ÷ BTC NAV; premium (>1) or discount (<1)
64.78x
3121.T Stock Price
Latest stock price (in USD)
$1.34
3121.T % from 52W High
Current price gap from 52-week high
-37%
3121.T Enterprise Value
MCap + Debt + Pref - Cash
$93.4M
3121.T Market Cap
Equity market value
$39.1M
3121.T BTC NAV
Current value of BTC = holdings × BTC price
$1.4M
3121.T MCAP as % of BTC
Market capitalization as a percentage of Bitcoin holdings value
2713%
3121.T BTC Supply %
Company BTC holdings as % of total 21M Bitcoin supply
0.000%
3121.T mNAV (MCap)
Market Cap ÷ BTC NAV; premium (>1) or discount (<1)
27.13x
3121.T 1W Return
Jul 13, 2026 (¥220.00) → Jul 17, 2026 (¥217.00)
-1.36%
3121.T 1M Return
Jun 16, 2026 (¥218.00) → Jul 17, 2026 (¥217.00)
-0.46%
3121.T 3M Return
Apr 16, 2026 (¥228.00) → Jul 17, 2026 (¥217.00)
-4.82%
3121.T YTD Return
Dec 30, 2025 (¥200.00) → Jul 17, 2026 (¥217.00)
+8.50%
3121.T 1Y Return
Jul 17, 2025 (¥338.40) → Jul 17, 2026 (¥217.00)
-35.87%
3121.T 1Y vs BTC
Stock 1Y return minus BTC 1Y return (percentage points)
-14.65 p.p.
3121.T 52W High
Highest price in the last 52 weeks (in USD)
$2.13
3121.T Basic Shares
Estimated basic shares outstanding
29,271,784
3121.T Shares per BTC held
How many shares you need to get exposure to 1 full Bitcoin through the stock
—
3121.T Trading Volume ($)
Most recent day's trading volume (VWAP × Volume)
$80.84K
3121.T Avg 30D Volume
Average daily trading volume over the last 30 calendar days (VWAP × Volume)
$32.01K
3121.T Debt
Total outstanding debt (Latest reported Yahoo Finance value)
$59.6M
3121.T Debt/BTC NAV
Debt as a % of BTC NAV
—
3121.T BTC Rating
BTC NAV ÷ Total Debt
—
3121.T Cash
Total cash and cash equivalents
$5.35M
3121.T Hist Volatility (30D)
Annualized standard deviation of the daily natural log return measured over the last 30 trading days
22.0%
3121.T Hist Volatility (1Y)
Annualized standard deviation of the daily natural log return measured over the last calendar year
35.1%
3121.T Implied Volatility
Open interest-weighted implied volatility from options market across all expirations
—
3121.T Open Interest
Outstanding open interest contracts × 100 shares × live share price
—
3121.T Put Open Interest
Outstanding put open interest contracts × 100 shares × live share price
—
3121.T Call Open Interest
Outstanding call open interest contracts × 100 shares × live share price
—
3121.T Put to Call
Ratio of put open interest to call open interest (put OI ÷ call OI). < 1.0 = more calls (bullish), > 1.0 = more puts (bearish)
—
3121.T Duration (Days)
Open Interest-weighted average of days to expiration for options on this asset. Higher values indicate longer-term options activity.
—
3121.T Short Interest (% Float)
% of tradable shares sold short
—
3121.T Bitcoin Exposure
BTC Price
Current price of Bitcoin
$81,920
3121.T BTC Holdings
Bitcoins held on balance sheet
₿17.6
3121.T BTC NAV
Current value of BTC = holdings × BTC price
$1.4M
3121.T BTC Rate (since Jan 1, 2024)
Average daily Bitcoin acquisition rate since Jan 1, 2024
—
3121.T BTC Supply %
Company BTC holdings as % of total 21M Bitcoin supply
0.000%
3121.T Valuation Metrics
3121.T Stock Price
Latest stock price (in USD)
$1.34
3121.T Market Cap
Equity market value
$39.1M
3121.T mNAV (EV)
Enterprise Value ÷ BTC NAV; premium (>1) or discount (<1)
64.78x
3121.T mNAV (MCap)
Market Cap ÷ BTC NAV; premium (>1) or discount (<1)
27.13x
3121.T BTC as % of MCAP
Bitcoin holdings value as a percentage of total market capitalization
4%
3121.T Enterprise Value
MCap + Debt + Pref - Cash
$93.4M
3121.T Basic Shares
Estimated basic shares outstanding
29,271,784
3121.T Shares per BTC held
How many shares you need to get exposure to 1 full Bitcoin through the stock
—
3121.T Debt
Total outstanding debt (Latest reported Yahoo Finance value)
$59.6M
3121.T Debt/BTC NAV
Debt as a % of BTC NAV
—
3121.T BTC Rating
BTC NAV ÷ Total Debt
—
3121.T Cash
Total cash and cash equivalents
$5.35M
3121.T Stock Returns
3121.T 1W Return
Jul 13, 2026 (¥220.00) → Jul 17, 2026 (¥217.00)
-1.36%
3121.T 1M Return
Jun 16, 2026 (¥218.00) → Jul 17, 2026 (¥217.00)
-0.46%
3121.T 3M Return
Apr 16, 2026 (¥228.00) → Jul 17, 2026 (¥217.00)
-4.82%
3121.T YTD Return
Dec 30, 2025 (¥200.00) → Jul 17, 2026 (¥217.00)
+8.50%
3121.T 1Y Return
Jul 17, 2025 (¥338.40) → Jul 17, 2026 (¥217.00)
-35.87%
3121.T 1Y vs BTC
Stock 1Y return minus BTC 1Y return (percentage points)
-14.65 p.p.
3121.T 52W High
Highest price in the last 52 weeks (in USD)
$2.13
3121.T % Down from 52W High
Current price gap from 52-week high
-37.28%
3121.T Trading & Risk
3121.T Trading Volume
Most recent day's trading volume (VWAP × Volume)
$80.84K
3121.T Avg 30D Volume
Average daily trading volume over the last 30 calendar days (VWAP × Volume)
$32.01K
3121.T 30D Volatility
Annualized standard deviation of the daily natural log return measured over the last 30 trading days
22.0%
3121.T 1Y Volatility
Annualized standard deviation of the daily natural log return measured over the last calendar year
35.1%
3121.T Beta
5Y Monthly: Volatility vs market (1.0 ≈ market)
-0.08
3121.T Short Interest (% Float)
% of tradable shares sold short
—
3121.T Options
3121.T Implied Volatility
Open interest-weighted implied volatility from options market across all expirations
—
3121.T Total Open Interest
Outstanding open interest contracts × 100 shares × live share price
—
3121.T Put Open Interest
Outstanding put open interest contracts × 100 shares × live share price
—
3121.T Call Open Interest
Outstanding call open interest contracts × 100 shares × live share price
—
3121.T Put to Call
Ratio of put open interest to call open interest (put OI ÷ call OI). < 1.0 = more calls (bullish), > 1.0 = more puts (bearish)
—
3121.T Duration (Days)
Open Interest-weighted average of days to expiration for options on this asset. Higher values indicate longer-term options activity.
—
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About Merchant Bankers Co (MBK)'s Bitcoin Treasury Strategy
Merchant Bankers Co (MBK) (3121.T) ranks #151 globally among Bitcoin treasury companies, with 17.6 Bitcoin in its corporate treasury worth approximately $1.44M at current prices. This represents 0.000% of the total 21 million Bitcoin that will ever exist.
Trading at a stock price of $1.34 per share with a market capitalization of $39.11M, Merchant Bankers Co (MBK)'s stock currently trades at an mNAV (enterprise value to Bitcoin NAV multiple) of 64.78x. Bitcoin holdings represent 4% of the company's market cap, underscoring Bitcoin's central role in Merchant Bankers Co (MBK)'s balance sheet strategy.
Recent stock performance shows -1.36% over the past week, -0.46% over the past month, +8.50% year-to-date, and -35.87% over the past year. Merchant Bankers Co (MBK) currently trades -37.28% from its 52-week high. The stock averages $32.01K in daily trading volume over the past 30 days, with 30-day volatility at 22.0%.