Strategy Surpasses BlackRock's IBIT in Bitcoin Holdings Following Strategic Purchases

MSTR now holds a total of $77,629.71 in bitcoin, exceeding BlackRock's iShares Bitcoin Trust for the first time since Q2 2024, with 815,061 BTC. Recently, the company made its third-largest bitcoin purchase, acquiring 34,164 BTC. Currently, IBIT holds 802,824 BTC, putting MSTR ahead by over 12,000 BTC. Although the difference is relatively small, it holds symbolic significance given IBIT's remarkable growth since its launch. Notably, IBIT achieved $70 billion in assets faster than any other ETF in history. At the start of Q1 2024, MSTR held 189,150 BTC. By early Q2, IBIT surpassed MSTR with approximately 273,000 BTC, compared to MSTR's 214,400 BTC. This lead was consistently maintained until now. However, the two entities operate differently. MSTR is an operating company that utilizes financial engineering, including at-the-market equity issuance and perpetual preferred securities, to accumulate bitcoin in a leveraged manner. In contrast, IBIT is a spot ETF designed to track bitcoin's price, offering investors straightforward exposure without leverage or corporate risk. Since its listing in January 2024, IBIT has gained around 55%, while MSTR has risen roughly 250%, driven by its leveraged structure. Notably, MSTR accelerated its accumulation during the recent market downturn, adding nearly 80,000 BTC in 2026 as bitcoin fell over 50% from its October all-time high. The perpetual preferred equity STRC has been a key differentiator for MSTR, providing a scalable source of capital that has funded a significant portion of its recent bitcoin accumulation. Meanwhile, IBIT's holdings have remained relatively stable, with only a modest decline in assets under management.