Investment calculator
Enter your BTC and the shares you own. The table shows what each position is worth in BTC today, at CEBE 1 today (share price = CEBE per share, i.e. the BTC per share left after all senior claims), and at CEBE 1 once the company reaches your BTC target, with the CEBE per share at the target taken from the efficiency curve. Your inputs stay in this browser.
Positions
BTC target and efficiency are prefilled with today's holdings and the efficiency fitted to each company's CEBE per share history · returns relative to the value today| Investment | Holding | Price todaysats · trading currency | Value todayBTC · share of portfolio | At CEBE 1 todayBTC · return · share | BTC targetcompany holdings | EfficiencyCEBE per share | At CEBE 1 at targetBTC · return · share |
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Portfolio in BTC
Value today and in the two CEBE 1 scenarios, by positionModel
Value today = shares × share price in sats. At CEBE 1 today = shares × CEBE per share, where CEBE per share = (BTC holdings − senior claims) / fully diluted shares (senior claims = debt + convertible debt + preferreds; for Capital B the BTC holdings include pending raises); return = CEBE per share / price − 1. At CEBE 1 the market cap equals the BTC left for common shareholders after all senior claims.
At CEBE 1 at target: the efficiency curve CEBE per share = A · BTC1 − 1/e is anchored at today's holdings and CEBE per share (A = CEBE per share / BTC1 − 1/e) and evaluated at the BTC target; value = shares × that CEBE per share. An efficiency e near 1 means growth in BTC is matched by dilution and new claims (CEBE per share stays flat); a large e means BTC is added with little dilution (CEBE per share grows almost in proportion to the holdings). The curve implicitly lets the senior claims grow along with the holdings.
Simplified model, not investment advice. Convertible notes count with today's default assumption (conversion only when in the money).