Catenaa, Thursday, April 23, 2026- Strategy has pushed its bitcoin holdings above 800,000 BTC after buying another 34,164 bitcoin for about $2.54 billion, reinforcing its position as the largest corporate holder of the cryptocurrency in the world.
The latest purchase, made between April 13 and April 19, was disclosed in a filing with the Securities and Exchange Commission. The company paid an average of $74,395 per bitcoin, bringing its total holdings to 815,061 BTC acquired for roughly $61.56 billion at an average purchase price of $75,527 per coin.
The scale of the position is becoming increasingly difficult to ignore. Strategy now controls more than 3.8% of bitcoin’s eventual fixed supply of 21 million coins. It has also moved ahead of BlackRock and its IBIT exchange-traded fund in total bitcoin holdings, marking the first time a single corporation has held more bitcoin than the world’s largest spot bitcoin ETF product.
Strategy’s bitcoin strategy began in 2020, when co-founder Michael Saylor transformed the company from a business software firm into a bitcoin treasury vehicle. Since then, Strategy has repeatedly raised capital through stock sales, convertible notes and preferred stock offerings to fund more bitcoin purchases.
The company’s latest purchases were funded largely through sales of its Class A stock, MSTR, and its newer STRC preferred shares. Strategy sold about $366 million in MSTR shares and about $2.18 billion in STRC preferred stock to finance the latest acquisition. STRC has become a central part of the company’s funding model because it offers investors an annualized yield of about 11.5%, while helping Strategy keep raising cash for bitcoin purchases.
Strategy’s preferred share structure has become increasingly complex. Beyond STRC, the company also operates other preferred stock programs including STRK, STRF and STRD. Together, these programs sit alongside Strategy’s broader “42/42” plan, which seeks to raise $84 billion through equity offerings and convertible debt by 2027 for additional bitcoin acquisitions.
The aggressive accumulation strategy has made Strategy one of the most closely watched companies in global markets because its stock often trades as a leveraged proxy for bitcoin itself. Investors who want indirect exposure to bitcoin frequently buy Strategy shares instead of the cryptocurrency directly.
However, the model also carries risks. Strategy’s holdings remain slightly underwater based on current bitcoin prices, and the company faces rising financing costs as it pays higher yields on preferred stock.
Analysts estimate annual interest-related costs have climbed toward $1.5 billion. If Strategy’s market value falls below the value of its bitcoin holdings, the company could face pressure because issuing new shares would become less attractive.
Even so, Strategy’s recent rebound has eased some investor concerns. The company’s stock gained sharply last week as bitcoin climbed back above $75,000. Supporters argue that Strategy’s continued buying could tighten bitcoin supply over time, while critics warn that so much of the market is becoming dependent on a single corporate buyer.
For now, Strategy remains the dominant force in the corporate bitcoin market. Its latest acquisition is the company’s third-largest bitcoin purchase on record and its biggest since November 2024.
