Bitcoin Treasury Research
Grading the Bitcoin Treasuries
I write about Bitcoin treasuries: the companies, the instruments, and the mechanisms that make them work or break. My whitepaper grades them on optionality, Bitcoin leverage, and durability.
I run Halvex, which tracks 185+ BTC treasuries and the convertibles, preferreds, and credit facilities they issue.
1 Issuer graded
3 Grade dimensions
185+ Treasuries on Halvex
A–F Grading scale
The Ratings
Issuer breakdowns
Issuer OptLevDur
Bitcoin Treasury Capital BTC B
A SEK 86 million company listed on Spotlight holding 172 BTC, and the first small-scale company to issue Bitcoin-backed preferreds.
A+
B
A
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