A
ANAP
3189.TMarket valuation vs the Bitcoin it holds
0.15×
live
Discount
a 85% discount to Bitcoin NAV
ANAP trades at 0.15× its Bitcoin NAV — you pay 15¢ for every $1 of Bitcoin it holds, a 110.5M USD pile.
Live · last updated
BTC held
1,432 BTC
Bitcoin treasury
Bitcoin NAV
110.5M USD
at today's BTC price
Market cap
17.1M USD
Fully diluted
Share price
58 JPY
JPY
Last BTC buy
9.37 BTC
Aug 31, 2026
mNAV over time
Last 12 months · diluted
Today's 0.15× sits in a 52-week range of 0.15× to 1.10×.
mNAV · 52-week range
0.15×–1.10×
0.15×now 0.15×1.10×
About ANAP
ANAP (3189.T) owns 1,432 BTC. At today's price that Bitcoin is worth 110.5M USD. The market caps the whole company at 17.1M USD — 0.15× its Bitcoin. Put plainly: you pay 15¢ for every $1 of Bitcoin it holds, a 85% discount to simply owning the coins. It bought in at an average of 720 USD per coin.
Company facts
- Country
- Japansource
- Headquarters
- Tokyo, Japansource
- Incorporated
- Japan (kabushiki kaisha)source
- Business
- Apparel retail (ANAP brand) and bitcoin treasury/ecosystem businesssource
- Fiscal year end
- August 31source
- Auditor
- アルファ監査法人 (Alpha Audit Corporation) (Minato-ku, Tokyo)source
- Website
- anap.co.jp ↗source
Each fact links to the filing or official page it was taken from.
ANAP (3189.T) mNAV — frequently asked
- What is ANAP (3189.T)'s mNAV?
- ANAP's mNAV is currently 0.15×. mNAV divides 3189.T's market capitalisation by the value of the Bitcoin it holds, so 0.15× means the market values the company at 0.15× the worth of its Bitcoin treasury (110.5M USD).
- Is ANAP (3189.T) overvalued versus its Bitcoin?
- At 0.15×, ANAP (3189.T) trades at a 85% discount to the Bitcoin it holds. Whether that is rich or cheap is best read against its own history: over the past year its mNAV has ranged 0.15×–1.10×.
- How much Bitcoin does ANAP (3189.T) hold?
- ANAP holds 1,432 BTC, worth 110.5M USD at current prices. Its most recent purchase was 9.37 BTC on Aug 31, 2026.
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