Strategy, a major corporate Bitcoin holder, has once again surpassed BlackRock's iShares Bitcoin Trust (IBIT) in total Bitcoin holdings following a substantial acquisition.
On April 20, Strategy announced the purchase of 34,164 BTC for approximately $2.54 billion, at an average price of $74,395 per coin. This move brings Strategy's total holdings to 815,061 BTC. In comparison, BlackRock's IBIT held 802,824 BTC as of the same date, giving Strategy an edge of around 12,200 BTC.
Strategy acquired its total Bitcoin reserves for roughly $61.56 billion, at an average cost of $75,527 per coin. With Bitcoin trading near $76,000, Strategy's current holdings are showing a slight unrealized profit.
This shift is significant as IBIT had overtaken Strategy in early 2024, largely due to accelerating ETF inflows. Strategy began 2024 with 189,150 BTC, while IBIT had already accumulated approximately 273,000 BTC by the second quarter. Strategy's recent accumulation, particularly during market downturns, has now propelled it back to the leading position.
The company has notably increased its Bitcoin accumulation, adding nearly 80,000 BTC prior to this latest announcement. The significant recent purchase was primarily funded by capital raised through market activities, including the sale of its perpetual preferred stock and MSTR shares.