Is BTM or CD more undervalued in 2026?

CirclFi compares Bitcoin Depot Inc. (BTM) and Chaince Digital Holdings Inc. - (CD) using 13 institutional-grade valuation models. BTM has a Quality of Company score of 7.7/10 while CD scores 1.9/10.

Which is a better buy — BTM or CD?

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 BTM and CD valuations compare?

BTM at $0.49 and CD at $8.69 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

BTM vs CD Valuation Comparison 2026 — Intrinsic Value Analysis

BTM

Capital Markets

Bitcoin Depot Inc.

Quality

7.7

out of 10

Value Trap

SAFE

Price

$0.49

Last close

Models

2/13

Active

CD

Capital Markets

Chaince Digital Holdings Inc. -

Quality

1.9

out of 10

Value Trap

SAFE

Price

$8.69

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	BTM Fair Value	BTM Upside	CD Fair Value	CD Upside
Bayesian DCF	Intrinsic	—	—	$2.28	-73.8%
Earnings Power Value	Intrinsic	—	—	$0.05	-99.0%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$1.53	+210.1%	—	—
ML-RIV	Intrinsic	$2.04	-69.6%	$4.27	-50.8%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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BTM vs CD — Which Stock Is More Undervalued?

BTM scores higher with a 7.7/10 quality rating vs CD's 1.9/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Bitcoin Depot Inc. (BTM) and Chaince Digital Holdings Inc. - (CD) 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.

BTM currently trades at $0.49 with a QOC of 7.7/10, while CD trades at $8.69 with a QOC of 1.9/10.

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).