Sats Ledger
Companies · Real estate

American Tower (AMT), measured in bitcoin

One American Tower share costs 215,813 sats today ($179.43). That's 36% more sats than a year ago, even though the dollar price fell 2.1%: bitcoin fell further. Since 2019, its shareholder return has been +10% a year in dollars, faster than the money supply grew (+6.6%), and −23% a year measured in bitcoin.

Next earnings: Tuesday, October 27 before the open.

Price in sats
215,813

What one share costs in bitcoin today ($179.43). One bitcoin is 100 million sats.

Past year, in bitcoin
+36% −2.1% in $

More sats per share than a year ago. Above zero means the stock beat simply holding bitcoin.

Shareholder return since COVID
+10%/yr −23%/yr in ₿

Cash the business produces per share, plus how fast that grows, since 2019. Beat new dollars (+6.6%/yr); trailed bitcoin (+1.8%/yr new supply).

Buybacks vs bitcoin
$0.93 vs $3.45

What each $1 it spent buying back its own stock since 2019 is worth today, versus the same $1 in bitcoin bought at the same times. Bitcoin wins.

Quarterly revenue would buy
0.18% of all bitcoin

$2.7 billion of revenue in the quarter to Jun 30, 2026, at that quarter's average price: ₿38,378 of the 21 million that will ever exist.

Pays its own way?
Yes

Since mid-2022 it kept $747 million of free cash flow after dividends and buybacks.

American Tower share price since 2019, in dollars and in bitcoin, both indexed to 100
Both lines start at 100 (the 2019 average). The gap between them is what measuring in bitcoin changes.

Questions

How many sats is one American Tower share?
215,813 sats ($179.43) at the close on October 13, 2026, or 0.00216 bitcoin.
Has American Tower beaten bitcoin?
Measured by share price, no: a share costs 93% fewer sats than its 2019 average (in dollars: −12%). Measured by the business (cash generated per share and its growth), −23% a year in bitcoin terms, behind bitcoin's supply growth.
Did American Tower's buybacks beat bitcoin?
No. It spent $297 million buying back its own stock since 2019. Each $1 is now worth $0.93 in shares; the same $1 in bitcoin, bought at the same times, would be worth $3.45. (Per dollar: at that size the buying itself would have moved bitcoin's price.)

Full history, charts and quarterly numbers for American Tower →