CEBE Modeler: Forward Simulation Engine

Pick a company. Model its share price through CEBE.

Each modeler calculates share price as CEBE × BTC Price × mNAV, with capital structure, scenarios, and 10-year projections tuned to each company's actual claims stack.

What is this?
CEBE (Common Equity Bitcoin Exposure) The sats of BTC each common share owns, after all senior claims are paid.
Share Price = CEBE × BTC Price × mNAV

New to CEBE? Start here →

TIER 1Full capital plan engine with year-by-year projections
TIER 2Foreign currency and bond structure modeling
PREFERREDSenior claims from preferred stock
0% CLAIMSPure equity. CEBE equals BPS. No senior claims
CLNConvertible loan note structure
CONVERTSZero-coupon convertible notes
SENIOR DEBTSenior secured debt, not convertible. Bridge and revolver facilities
LIQUIDATION RISKCollateral-backed debt. Forced liquidation modeled
Loading companies from sheet…
All Companies: Live CEBE Snapshot ▼
Company BTC Held CEBE FD BPS Claims % Equity% Break-Even
How It Works
NOW view: What if BTC were at this price today? Point-in-time snapshots at crash, current, and bull prices.
FORWARD view: 10-year projections with halving cycle model, capital plan assumptions, environment modifiers.
Custom Simulation: Full control. BTC price path, mNAV, ATM pace, dividends, FX, regulatory environment.
CEBE Framework by @chcbearsfan · Read the Framework · CEBE vs BPS
Not financial advice · Data updates after each filing

CEBE Forward Simulation Engine

The CEBE Modeler projects how a Bitcoin treasury company's key metrics evolve under different Bitcoin price paths and capital structure scenarios. Unlike static snapshot tools, the Modeler lets you test assumptions about halving cycles, convertible note maturities, warrant exercises, share issuance, and Bitcoin acquisition pace.

What You Can Model

Claims Compression: See how rising Bitcoin prices reduce the fiat-denominated cost of senior claims relative to BTC value, compressing them over time. BTC-indexed claims do not compress.