Is BTCT or BTM more undervalued in 2026?

CirclFi compares BTC Digital Ltd. (BTCT) and Bitcoin Depot Inc. (BTM) using 13 institutional-grade valuation models. BTCT has a Quality of Company score of 1.8/10 while BTM scores 7.7/10.

Which is a better buy — BTCT or BTM?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do BTCT and BTM valuations compare?

BTCT at $1.14 and BTM at $0.49 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

BTCT vs BTM Valuation Comparison 2026 — Intrinsic Value Analysis

BTCT

Finance Services

BTC Digital Ltd.

Quality

1.8

out of 10

Value Trap

SAFE

Price

$1.14

Last close

Models

9/13

Active

BTM

Finance Services

Bitcoin Depot Inc.

Quality

7.7

out of 10

Value Trap

SAFE

Price

$0.49

Last close

Models

2/13

Active

Model-by-Model Comparison

Model	Type	BTCT Fair Value	BTCT Upside	BTM Fair Value	BTM Upside
Bayesian DCF	Intrinsic	$0.22	-80.9%	—	—
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	—	—	$1.17	+138.3%
ML-RIV	Intrinsic	$2.95	+158.7%	$2.04	-69.6%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$1.27	+11.6%	—	—
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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BTCT vs BTM — Which Stock Is More Undervalued?

BTM scores higher with a 7.7/10 quality rating vs BTCT's 1.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing BTC Digital Ltd. (BTCT) and Bitcoin Depot Inc. (BTM) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

BTCT currently trades at $1.14 with a QOC of 1.8/10, while BTM trades at $0.49 with a QOC of 7.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).