The9 Limited
NCTYMarket valuation vs the Bitcoin it holds
4.83×
Premium
a 383% premium to Bitcoin NAV
The9 Limited trades at 4.83× its Bitcoin NAV — you pay $4.83 for every $1 of Bitcoin it holds, a 18.2M USD pile.
Live · last updated
BTC held
285 BTC
Bitcoin treasury
Bitcoin NAV
18.2M USD
at today's BTC price
Market cap
75.4M USD
Fully diluted
Share price
4.95 USD
USD
Last BTC buy
285 BTC
Mar 31, 2025
mNAV over time
Full history · dilutedToday's 4.83× sits in a 52-week range of 2.80× to 4.94×.
mNAV · 52-week range
2.80×–4.94×
2.80×now 4.83×4.94×
About The9 Limited
The9 Limited (NCTY) owns 285 BTC. At today's price that Bitcoin is worth 18.2M USD. The market caps the whole company at 75.4M USD — 4.83× its Bitcoin. Put plainly: you pay $4.83 for every $1 of Bitcoin it holds, a 383% premium for everything that isn't the Bitcoin. It bought in at an average of 82.3K USD per coin.
The9 Limited (NCTY) mNAV — frequently asked
- What is The9 Limited (NCTY)'s mNAV?
- The9 Limited's mNAV is currently 4.83×. mNAV divides NCTY's market capitalisation by the value of the Bitcoin it holds, so 4.83× means the market values the company at 4.83× the worth of its Bitcoin treasury (18.2M USD).
- Is The9 Limited (NCTY) overvalued versus its Bitcoin?
- At 4.83×, The9 Limited (NCTY) trades at a 383% premium 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 2.80×–4.94×.
- How much Bitcoin does The9 Limited (NCTY) hold?
- The9 Limited holds 285 BTC, worth 18.2M USD at current prices. Its most recent purchase was 285 BTC on Mar 31, 2025.
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