BTC DAT Forced-Seller Stress Watch
This is an early-warning forced-seller stress watch, not proof that any DAT must sell BTC. BitcoinTreasuries deltas are aggregator-implied reported reductions/additions, and non-MSTR capital structure is not yet official-source complete.
Stress Candidates
| Rank | Ticker | Entity | Score | Evidence | mNAV | Latest Reduction | 4W Reduction | Confidence |
|---|---|---|---|---|---|---|---|---|
| 46 | USBC | USBC, Inc. | 45.0 | discount_only | 0.09 | 0 | 0 | low_medium |
| 56 | BTCT | Bitcoin Treasury Corp | 41.3 | discount_plus_reduction | 0.72 | 8 | 8 | low |
| 35 | FUFU | BitFuFu Inc. | 34.0 | reduction_only | n/a | 184 | 184 | low |
| 26 | ALCPB | Capital B | 33.8 | discount_only | 0.63 | 0 | 0 | low_medium |
| 36 | EMPD | Empery Digital | 25.0 | reduction_only | n/a | 1,400 | 1,400 | low |
| 28 | SWC | The Smarter Web Company PLC | 24.2 | discount_only | 0.75 | 0 | 0 | low_medium |
| 62 | EXOD | Exodus Movement, Inc | 24.1 | reduction_only | n/a | 28 | 28 | low |
| 1 | MSTR | Strategy | 21.6 | official_sale_or_obligation | 1.03 | 3,588 | 3,588 | medium |
| 2 | XXI | Twenty One Capital | 21.0 | discount_only | 0.79 | 0 | 0 | low_medium |
| 97 | SIX | Sixty-Six Capital Inc | 21.0 | reduction_only | n/a | 5 | 5 | low |
| 22 | NAKA | Nakamoto Inc | 16.4 | discount_only | 0.85 | 0 | 0 | low_medium |
| 24 | OBTC3 | OranjeBTC | 16.4 | discount_only | 0.85 | 0 | 0 | low |
| 80 | LQWD | LQWD Technologies Corp. | 16.4 | discount_only | 0.85 | 0 | 0 | low_medium |
| 27 | DDC | DDC Enterprise Limited | 13.8 | watch_only | 2.75 | 0 | 0 | medium |
| 3 | MPJPY | Metaplanet Inc. | 13.3 | discount_only | 0.89 | 0 | 0 | low_medium |
| 19 | NXTT | Next Technology Holding Inc. | 9.0 | insufficient_data | n/a | 0 | 0 | low_medium |
| 44 | ZOOZ | ZOOZ Power | 8.0 | discount_only | 0.96 | 0 | 0 | low_medium |
| 32 | HOLO | Microcloud Hologram | 7.0 | insufficient_data | n/a | 0 | 0 | low_medium |
| 33 | CAN | Canaan Inc. | 7.0 | insufficient_data | n/a | 0 | 0 | low_medium |
| 7 | ASST | Strive | 4.1 | watch_only | 1.21 | 0 | 0 | low_medium |
| 41 | KULR | KULR Technology Group | 3.5 | insufficient_data | 1.42 | 0 | 0 | low_medium |
| 4 | MARA | MARA Holdings, Inc. | 0.0 | insufficient_data | n/a | 0 | 0 | low_medium |
| 5 | BSTR | Bitcoin Standard Treasury Company | 0.0 | insufficient_data | n/a | 0 | 0 | low |
| 6 | BLSH | Bullish | 0.0 | insufficient_data | n/a | 0 | 0 | low_medium |
| 8 | SPCX | SpaceX | 0.0 | insufficient_data | n/a | 0 | 0 | low |
| 9 | COIN | Coinbase Global, Inc. | 0.0 | insufficient_data | n/a | 0 | 0 | low_medium |
| 10 | RIOT | Riot Platforms, Inc. | 0.0 | insufficient_data | n/a | 0 | 0 | low_medium |
| 11 | CLSK | CleanSpark, Inc. | 0.0 | insufficient_data | n/a | 0 | 0 | low |
| 12 | TSLA | Tesla, Inc. | 0.0 | insufficient_data | n/a | 0 | 0 | low_medium |
| 13 | HUT | Hut 8 Mining Corp | 0.0 | insufficient_data | n/a | 0 | 0 | low_medium |
Method
This is an early-warning forced-seller stress watch, not proof that any DAT must sell BTC. BitcoinTreasuries deltas are aggregator-implied reported reductions/additions, and non-MSTR capital structure is not yet official-source complete. Matched-entity reductions use normalized ticker plus entity name. Ticker/name changes can appear as new or disappeared rows rather than true holdings changes. Missing data lowers confidence rather than automatically raising stress score. Official confirmation expansion for non-MSTR DATs is a v2 follow-up.