However, A company dealing purely in BTC is ultra-risky compared to traditional investments. Therefor, a P/E of 10 seems unwarranted.
Can you elaborate on this please? I would expect a company that deals in only one currency to be much less risky, since there is no currency exchange risk. A company that sells shares or promises returns in BTC, if it cashes out any portion of its holdings into USD, has a huge risk of Bitcoin value increasing, and the company not being able to exchange enough USD back into BTC to keep up (another reason BTC HYIPs are so dangerous: if they promise 7% return, do their business in USD, and if BTC appreciates by 3%, they have to cover the 7% return AND the 3% BTC increase).