Strategy Now Only 21,102 BTC Away From Dethroning BlackRock in Bitcoin Holdings

Michael Saylor’s company, Strategy, is closing in on a significant milestone in institutional Bitcoin ownership. 

According to recent data, the firm is within striking distance of surpassing BlackRock’s spot Bitcoin fund in total holdings.

Strategy currently holds 761,068 BTC, valued at $56.20 billion. By comparison, BlackRock’s iShares Bitcoin Trust (IBIT) maintains 782,170 BTC, worth $57.79 billion—a gap of just 21,102 BTC. At its current buying pace, Strategy could bridge this difference within a week.

Key Points

• Strategy holds 761,068 BTC (~$56.2B), just 21,102 BTC behind BlackRock’s iShares Bitcoin Trust.
• The company’s recent purchase of 22,337 BTC (~$1.57B at $70,194 each) marks its largest acquisition since January.
• At its current buying pace, Strategy could overtake BlackRock within a week.
• Rising institutional demand is supporting Bitcoin’s recent price recovery, which saw a 5.5% gain last week to $73,769.
• Long-term holders control nearly 60% of Bitcoin, contributing to market stability and reducing reliance on short-term trading flows.

Recent Bitcoin Purchase Accelerates Accumulation

Earlier this week, Strategy reported a substantial new acquisition via a regulatory filing. The Form 8-K filed with the US Securities and Exchange Commission revealed that the company purchased 22,337 BTC during the week of March 9–15, totaling approximately $1.57 billion. Notably, the average purchase price, including fees and related expenses, was $70,194 per Bitcoin.

This purchase marks Strategy’s largest Bitcoin acquisition since January 20, when it bought roughly $2.1 billion worth of the cryptocurrency.

Institutional Demand Supports Bitcoin Price Recovery

Analysts see Strategy’s buying activity as part of a broader trend of rising institutional demand, which in turn is helping to support Bitcoin’s price recovery. A research note from Bernstein highlighted that growing competition and stronger long-term ownership have contributed to Bitcoin’s recent rebound.

Over the past week, Bitcoin gained 5.5%, trading at $73,769 at the time of publication. Bernstein noted that it outperformed gold and major equity indices during the same period, despite escalating geopolitical tensions in the Middle East.

The analysts emphasized several features of Bitcoin that appeal to investors, particularly during times of uncertainty. They cited its borderless nature, high liquidity, and lack of counterparty risk—traits that can strengthen confidence during periods of global disruption.

Long-Term Holding Trends Reshape Market Structure

Ownership patterns are also shifting, according to Bernstein. Nearly 60% of Bitcoin’s supply has remained unmoved for over a year, thereby reflecting the growing influence of long-term holders.

Consequently, this trend suggests markets may be less reliant on short-term trading flows. A larger share of dormant supply can help mitigate the impact of sudden sell-offs, thus supporting greater price stability over time.

Meanwhile, allocations to Bitcoin are rising across multiple channels, including exchange-traded funds, corporate treasuries, and low-activity wallets. Together, these developments point to a more resilient market structure, Bernstein concluded.