Is BTOG or COIN more undervalued in 2026?

CirclFi compares Bit Origin Limited (BTOG) and Coinbase Global, Inc. (COIN) using 13 institutional-grade valuation models. BTOG has a Quality of Company score of 2.4/10 while COIN scores 9.1/10.

Which is a better buy — BTOG or COIN?

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 BTOG and COIN valuations compare?

BTOG at $1.70 and COIN at $182.25 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

BTOG vs COIN Valuation Comparison 2026 — Intrinsic Value Analysis

BTOG

Financial Data & Stock Exchanges

Bit Origin Limited

Quality

2.4

out of 10

Value Trap

—

Price

$1.70

Last close

Models

11/13

Active

COIN

Financial Data & Stock Exchanges

Coinbase Global, Inc.

Quality

9.1

out of 10

Value Trap

LOW

Price

$182.25

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	BTOG Fair Value	BTOG Upside	COIN Fair Value	COIN Upside
Bayesian DCF	Intrinsic	$0.45	-73.5%	$149.14	-18.2%
Earnings Power Value	Intrinsic	—	—	$40.38	-77.8%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
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	$3.83	+120.4%	$137.85	-24.4%

🔒

Unlock Full 13-Model Comparison

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

Access Full Analysis — From $27/mo →

BTOG vs COIN — Which Stock Is More Undervalued?

COIN scores higher with a 9.1/10 quality rating vs BTOG's 2.4/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Bit Origin Limited (BTOG) and Coinbase Global, Inc. (COIN) 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.

BTOG currently trades at $1.70 with a QOC of 2.4/10, while COIN trades at $182.25 with a QOC of 9.1/10.

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).