Is BTGO or CNCK more undervalued in 2026?

CirclFi compares BitGo Holdings, Inc. (BTGO) and Coincheck Group N.V. (CNCK) using 13 institutional-grade valuation models. BTGO has a Quality of Company score of 1.8/10 while CNCK scores 5.2/10.

Which is a better buy — BTGO or CNCK?

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 BTGO and CNCK valuations compare?

BTGO at $6.05 and CNCK at $1.97 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

BTGO vs CNCK Valuation Comparison 2026 — Intrinsic Value Analysis

BTGO

Capital Markets

BitGo Holdings, Inc.

Quality

1.8

out of 10

Value Trap

—

Price

$6.05

Last close

Models

9/13

Active

CNCK

Capital Markets

Coincheck Group N.V.

Quality

5.2

out of 10

Value Trap

—

Price

$1.97

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	BTGO Fair Value	BTGO Upside	CNCK Fair Value	CNCK Upside
Bayesian DCF	Intrinsic	$1.60	-73.5%	$1.30	-33.9%
Earnings Power Value	Intrinsic	—	—	$0.93	-52.8%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$0.19	-97.5%	$4.03	+104.6%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

🔒

Unlock Full 13-Model Comparison

Access all valuation models for BTGO vs CNCK — including EROIC Spread, First Chicago, Markov DDM, PWERM, and 7 more.

Access Full Analysis — From $27/mo →

BTGO vs CNCK — Which Stock Is More Undervalued?

CNCK scores higher with a 5.2/10 quality rating vs BTGO's 1.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing BitGo Holdings, Inc. (BTGO) and Coincheck Group N.V. (CNCK) 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.

BTGO currently trades at $6.05 with a QOC of 1.8/10, while CNCK trades at $1.97 with a QOC of 5.2/10.

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).