Company Metrics
BTC Price
Current price of Bitcoin
$77,112
3121.T BTC Holdings
Bitcoins held on balance sheet
₿17.6
3121.T mNAV (EV)
Enterprise Value ÷ BTC NAV; premium (>1) or discount (<1)
72.29x
3121.T Stock Price
Latest stock price (in USD)
$1.31
3121.T % from 52W High
Current price gap from 52-week high
-45%
3121.T Enterprise Value
MCap + Debt + Pref - Cash
$98.1M
3121.T Market Cap
Equity market value
$38.8M
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
2861%
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)
28.61x
3121.T 1W Return
Apr 23, 2026 (¥218.00) → Apr 30, 2026 (¥209.00)
-4.13%
3121.T 1M Return
Mar 27, 2026 (¥216.00) → Apr 30, 2026 (¥209.00)
-3.24%
3121.T 3M Return
Jan 29, 2026 (¥230.00) → Apr 30, 2026 (¥209.00)
-9.13%
3121.T YTD Return
Dec 30, 2025 (¥200.00) → Apr 30, 2026 (¥209.00)
+4.50%
3121.T 1Y Return
Apr 30, 2025 (¥289.77) → Apr 30, 2026 (¥209.00)
-27.87%
3121.T 1Y vs BTC
Stock 1Y return minus BTC 1Y return (percentage points)
-7.64 p.p.
3121.T 52W High
Highest price in the last 52 weeks (in USD)
$2.37
3121.T Basic Shares
Estimated basic shares outstanding
29,744,084
3121.T Shares per BTC held
How many shares you need to get exposure to 1 full Bitcoin through the stock
—
3121.T Trading Volume ($)
Most recent day's trading volume (VWAP × Volume)
$7.96K
3121.T Avg 30D Volume
Average daily trading volume over the last 30 calendar days (VWAP × Volume)
$102.45K
3121.T Debt
Total outstanding debt (Latest reported Yahoo Finance value)
$65.0M
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
$5.72M
3121.T Hist Volatility (30D)
Annualized standard deviation of the daily natural log return measured over the last 30 trading days
41.0%
3121.T Hist Volatility (1Y)
Annualized standard deviation of the daily natural log return measured over the last calendar year
38.6%
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
$77,112
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)
$1.31
3121.T Market Cap
Equity market value
$38.8M
3121.T mNAV (EV)
Enterprise Value ÷ BTC NAV; premium (>1) or discount (<1)
72.29x
3121.T mNAV (MCap)
Market Cap ÷ BTC NAV; premium (>1) or discount (<1)
28.61x
3121.T BTC as % of MCAP
Bitcoin holdings value as a percentage of total market capitalization
3%
3121.T Enterprise Value
MCap + Debt + Pref - Cash
$98.1M
3121.T Basic Shares
Estimated basic shares outstanding
29,744,084
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)
$65.0M
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
$5.72M
3121.T Stock Returns
3121.T 1W Return
Apr 23, 2026 (¥218.00) → Apr 30, 2026 (¥209.00)
-4.13%
3121.T 1M Return
Mar 27, 2026 (¥216.00) → Apr 30, 2026 (¥209.00)
-3.24%
3121.T 3M Return
Jan 29, 2026 (¥230.00) → Apr 30, 2026 (¥209.00)
-9.13%
3121.T YTD Return
Dec 30, 2025 (¥200.00) → Apr 30, 2026 (¥209.00)
+4.50%
3121.T 1Y Return
Apr 30, 2025 (¥289.77) → Apr 30, 2026 (¥209.00)
-27.87%
3121.T 1Y vs BTC
Stock 1Y return minus BTC 1Y return (percentage points)
-7.64 p.p.
3121.T 52W High
Highest price in the last 52 weeks (in USD)
$2.37
3121.T % Down from 52W High
Current price gap from 52-week high
-44.85%
3121.T Trading & Risk
3121.T Trading Volume
Most recent day's trading volume (VWAP × Volume)
$7.96K
3121.T Avg 30D Volume
Average daily trading volume over the last 30 calendar days (VWAP × Volume)
$102.45K
3121.T 30D Volatility
Annualized standard deviation of the daily natural log return measured over the last 30 trading days
41.0%
3121.T 1Y Volatility
Annualized standard deviation of the daily natural log return measured over the last calendar year
38.6%
3121.T Beta
5Y Monthly: Volatility vs market (1.0 ≈ market)
-0.10
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 $1.36M at current prices. This represents 0.000% of the total 21 million Bitcoin that will ever exist.
Trading at a stock price of $1.31 per share with a market capitalization of $38.83M, Merchant Bankers Co (MBK)'s stock currently trades at an mNAV (enterprise value to Bitcoin NAV multiple) of 72.29x. Bitcoin holdings represent 3% of the company's market cap, underscoring Bitcoin's central role in Merchant Bankers Co (MBK)'s balance sheet strategy.
Recent stock performance shows -4.13% over the past week, -3.24% over the past month, +4.50% year-to-date, and -27.87% over the past year. Merchant Bankers Co (MBK) currently trades -44.85% from its 52-week high. The stock averages $102.45K in daily trading volume over the past 30 days, with 30-day volatility at 41.0%.