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Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity.
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Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity. It also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets to leading traditional finance institutions, including exchanges and asset managers; CoinDesk Data, a comprehensive suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics; and CoinDesk Insights offers news, analysis, information, conferences and networking opportunities related to digital assets, blockchain technology and the broader financial technology industry. Bullish was founded in 2020 and is based in George Town, Cayman Islands.
Common questions about Bullish's Bitcoin holdings
Bullish currently holds 23,300 BTC, which represents 0.111% of the total Bitcoin supply (21 million). This makes them the 7th largest public Bitcoin holder.
As of today, Bullish's Bitcoin holdings are worth approximately $1,543,775,984. This represents 37.4% of the company's total market value.
Bullish's average cost basis for their Bitcoin purchases is $1,928,127,389 per Bitcoin. Their current return on investment (ROI) is -19.93%.
Bullish's most recent Bitcoin purchase was Dec 31, 2025. View purchase details
Bullish is a public company in the Technology sector and Software - Infrastructure industry with approximately 414 employees .
Bullish has a market capitalization of approximately $4,126,351,616 and annual revenue of $267,908,000 .
Bullish's mNAV (Market-to-Net Asset Value) is 2.76x, comparing the company's market value to its Bitcoin holdings value. An mNAV of 1.0 means market value equals Bitcoin stash, while >1.0 indicates a premium for the company's Bitcoin strategy.
Bullish has a market capitalization of $4,126,351,616 and an enterprise value of $4,626,846,616. Enterprise value represents the total company value including debt and cash, providing a more complete valuation picture than market cap alone.
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tanguma
Is anyone in here? should we start using this more?
Comment from Bitcoin Dashboard
jackson
Yo
Hi
Comment from Research
5 June 2026
Greatly appreciated, thank you
30 October 2025
newhedge
Retirement calculator is fixed along with new initial BTC and annualized growth inputs
26 October 2025
Data error, being fixed :)
23 October 2025
Anyone know why the retirement calculator has a predicted BTC price of ~$44k over a ten year period? I'm assuming I am reading it wrong
16 October 2025
spacegallagher
$80k???
28 February 2025
$85k!
11 November 2024
$80k!!!
10 November 2024
New ATH!
6 November 2024
can i download historical bitcoin prices to excel?
13 September 2024
New Onchain charts available on Onramp Terminal! Check the left sidenavbar.
25 July 2024
What is everyone's favorite resource to utilize through the terminal?
20 June 2024
philm23
To the Onramp team - any plans to add the net exchange reserve figures to the terminal?
10 March 2024
awesome terminal, very good job guys.
28 February 2024
Never mind I found it !
How do I edit my alerts ?
24 February 2024
I've been looking for a dataset of blockheight / price. Blockheight as the x variable. Does anyone know where I could find that?
7 February 2024
lifeonbtc
terminal chat - very cool/.