BTC-per-Share Accretion Calculator
(with mNAV Gate)Satoshi Institute — board-ready worksheet. Enter inputs; results update live. Numbers are illustrative only.
Inputs
Use $ fields for USD; coin fields for BTC
Gate 1 — mNAV Band (policy)
Awaiting inputs…
| Metric | Value |
|---|---|
| Enterprise Value (EV = D + E − F) | $0 |
| BTC-NAV (B × A) | $0 |
| mNAV (EV ÷ BTC-NAV) | — |
| Band classification | — |
Accretion Test (must pass at trade)
Awaiting inputs…
| Metric | Value |
|---|---|
| Net proceeds: P = J − K | $0 |
| ΔBTC = (P − hedge_cost_$) ÷ A | — |
| BTC_after = B + ΔBTC − hedge_cost_BTC | 0 BTC |
| Shares_after = C + M | 0 |
| BPS_before = B ÷ C | — |
| BPS_after = BTC_after ÷ Shares_after | — |
| Accretion Δ (after − before) | — |
Tip: Include fees, hedge cost, and any preferred dividend reserve if funded from proceeds. Be conservative on conversion/dilution.
Disclosure Box (drop into MD&A)
| Metric | Before | After |
|---|---|---|
| BTC held (coins) | 0 | 0 |
| Shares outstanding | 0 | 0 |
| BTC per share | — | — |
| Net proceeds used to acquire BTC | — | $0 |
| Hedge cost (if any) | — | $0 |
Disclaimers: For educational purposes only; not investment advice. Use fair-value accounting per FASB ASU 2023-08 and your auditor's guidance. The mNAV gates and accretion test are policy tools, not guarantees of performance.