The Capital B modeler asks what a single ALCPB share owns in bitcoin once every claim ranking ahead of it is settled. The senior claim ahead of the common is convertible and indexed to bitcoin rather than fixed in a currency, so a rising bitcoin price does not erode it the way it erodes a fixed claim. Claims denominated in EUR are converted at the rate in effect, so a currency move changes what the common owns without any bitcoin changing hands. Senior Claims % and CEBE are recomputed from the capital structure at whatever bitcoin price and issuance path you set, so the figures below are the ones your own assumptions produce rather than a forecast.
| Company | BTC Held | CEBE | FD BPS | Claims % | Equity% | Break-Even |
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