Strategy, the largest corporate holder of Bitcoin, has surpassed the BlackRock IBIT fund by BTC holdings. The company currently holds about 802,823 BTC.
This implies it controls more than 4% of the total Bitcoin supply. Its unrealized profit is estimated at roughly $242 million.
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The shift also points to intensified competition among institutional holders and a stronger long-term emphasis on BTC.
Strategy Overtakes BlackRock With a Margin of 815,061 BTC
Michael Saylor has pursued Bitcoin accumulation for years, even as parts of Wall Street questioned the approach. More recent purchases have increased the scale of that exposure.
Following the latest acquisition of 34,164 BTC , the company reached a new high for the period since its accumulation began in August 2020. The reported cost was about $2.54 billion at an average price of $74,395 per BTC. Since the start of 2026, Bitcoin’s return is reported at about 9.5%.
This was not a routine buy. The purchase was described as the third largest in Strategy’s history and the largest since November 2024.
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On average, the company bought BTC at about $75,527, bringing that cost basis close to current market levels.
As of the reported tally, Strategy now holds 815,061 BTC, which positions it as the largest corporate Bitcoin holder globally. The BlackRock IBIT fund reportedly holds 802,823 BTC (about $64.63 billion).
Strategy Already Controls More Than 4% of BTC Supply
With 815,061 BTC , the company owns just over 4% of the total Bitcoin supply. That scale is closer to Michael Saylor’s stated target of accumulating between 5% and 7% of the existing BTC supply.
Based on Bitcoin Treasuries estimates and the current pace, Strategy could reach 1 million BTC by November 2026. What earlier looked speculative is now closer to a plausible scenario if purchases continue.
Such accumulation can gradually reduce circulating supply available to the market. Over time, that dynamic may affect pricing, especially when buying demand increases.
Demand for Bitcoin ETFs Is Growing Again
In parallel, the pattern is not limited to a single company.
Bitcoin ETFs reportedly saw about $1.44 billion in inflows over the week. This is described as one of the strongest results in 2026, suggesting institutional interest is picking up again following a quieter stretch.
The competition between Strategy and BlackRock fits a broader trend: major participants have been adding to Bitcoin exposure.
At the time of writing, BTC is trading around $76,486, even as overall market capitalization is down by about $1.53 trillion.
Institutions Accelerate BTC Shortage
However, heavy accumulation can also have trade-offs. As more BTC is moved into long-term storage, market liquidity may decline. During upswings, tighter liquidity can amplify upward moves, while rapid selloffs can contribute to higher volatility.
Another question is how sustainable the approach is. Strategy is increasingly behaving like a Bitcoin proxy, making its outcomes more closely tied to BTC price performance. If the market enters a prolonged downturn, that linkage could increase pressure on the firm.
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On the other hand, Strategy ’s actions can influence wider institutional positioning. As more large players accumulate BTC, it can reinforce the view of Bitcoin as a long-term asset rather than only a short-term trading instrument.
A balance is emerging. Supply is shrinking, while competition for remaining coins intensifies. Together, these factors could contribute to the conditions behind the next phase of growth.
