Strategy Retakes Bitcoin Lead Over BlackRock IBIT After $2.54 Billion Purchase

TLDR

• Strategy bought 34,164 BTC for about $2.54 billion between April 13 and April 19.
• The purchase lifted Strategy’s total Bitcoin holdings to 815,061 BTC.
• BlackRock’s IBIT held 802,824 BTC as of April 20, behind Strategy by about 12,200 BTC.
• Strategy’s average purchase price across all holdings stands at $75,527 per Bitcoin.
• The latest purchase was funded through STRC preferred stock and MSTR share sales.

Strategy has moved back ahead of BlackRock’s iShares Bitcoin Trust in Bitcoin holdings after a fresh purchase. The company said it bought 34,164 BTC for about $2.54 billion.

That lifted Strategy’s total holdings to 815,061 BTC. BlackRock’s IBIT held 802,824 BTC as of April 20, so Strategy now leads by about 12,200 BTC.

Strategy moves back to the top in Bitcoin holdings

Strategy announced the purchase on April 20. It said the coins were bought at an average price of $74,395 each. The buy ranks among the company’s largest to date.

The new total gives Strategy the biggest institutional Bitcoin position again. IBIT had stayed ahead for most of the period since early 2024. That changed after Strategy’s latest round of buying.

Strategy’s full Bitcoin stash was acquired for about $61.56 billion. Its average cost across all holdings is $75,527 per coin. With Bitcoin trading near $76,000 at press time, the position showed a small unrealized gain.

BlackRock’s IBIT loses a lead it held since 2024

IBIT became the largest institutional Bitcoin holder after its launch in January 2024. Strong ETF inflows helped the fund pass major corporate buyers within months. It then kept that lead as fresh money entered the product.

That pace later slowed as Bitcoin pulled back from its October 2025 peak. The article noted that Bitcoin had dropped nearly 40% from that high. During that period, many institutions reduced activity, but Strategy kept adding coins.

The change is notable because IBIT had become the fastest ETF to reach $70 billion in assets. Even so, Strategy’s single treasury model allowed it to overtake the fund. The new gap remains narrow, but the ranking has shifted.

Funding came from stock sales as buying continued

Strategy funded the latest purchase mainly through capital raised in the market. Its latest 8-K said it sold 21,795,389 shares of STRC perpetual preferred stock. That sale brought in about $2.18 billion in net proceeds.

The filing also said the company raised another $366 million through MSTR share sales. Those funds supported the Bitcoin purchase made between April 13 and April 19. The company had hinted at a move before the filing.

Michael Saylor posted “Think Even Bigger” on X on April 19. The next day, Strategy confirmed the new buy. The company has now added nearly 80,000 BTC in 2026, which kept its accumulation pace above IBIT’s recent growth.

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