Metric
BTC Yield
Treasury performance metric: the change in BTC per fully diluted share.
Definition
BTC Yield is a metric created by Michael Saylor to measure the performance of corporate Bitcoin treasury companies. It is calculated as the percentage change in BTC per fully diluted share between two periods. For example, if a company goes from 0.005 BTC per share to 0.006 BTC per share, its BTC Yield is 20%. The metric matters because it captures whether the company is creating value in BTC terms per shareholder, even during periods of aggressive share issuance.
In Context
E.G.
Strategy reported a BTC Yield of 74.3% in 2024, far exceeding the appreciation of BTC itself.
Related Terms
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