Strategy Overtakes BlackRock’s Bitcoin Holdings, But Is Saylor Done Buying?

Michael Saylor announced on Monday that Strategy had carried out another massive Bitcoin buy. The multi-billion-dollar Bitcoin purchase did not come as a surprise to the market, given that the company had already been raising more money to buy BTC leading up to the day. However, what is interesting is how much BTC the public company now holds and what it means in comparison to other counterparts with large holdings in the market.

With the most recent buy, where the company bought 34,164 BTC, it has now seen its Bitcoin holdings cross the 800,000 BTC mark for the first time. According to the announcement, this latest BTC buy had set the company back a whopping $2.54 billion with an average price of $74,395 per Bitcoin.

This brought the company’s total holdings to 815,061 BTC, with the total purchase history coming out to $61.56 billion spent so far. This buy also brought down the company’s average buy price for its BTC holdings to $75,527, decreasing its total entry point.

With the holdings now sitting above 815,000 BTC, though, this means that Strategy has actually surpassed BlackRock when it comes to BTC holdings. Previously, BlackRock had dominated the market as Spot Bitcoin ETFs gained popularity rapidly, and BlackRock’s holdings grew very fast.

However, at the time of writing, the BlackRock IBIT total BTC holdings sit below 800,000, at 798,062, according to data from Bitbo. This is a small gap, but it shows how Strategy’s BTC buys have continued to balloon, going toe-to-toe with BlackRock, which is a company that handles over $12 trillion in assets.

In the past, Michael Saylor has said that Strategy’s move to buy Bitcoin as a treasury asset was not a short-term plan, and this has been proven over the years. The company began buying Bitcoin back in 2020, and five years on, it is still buying BTC and remains the company with the largest BTC holdings in the world.

In an interview with CNBC back in February, Saylor reiterated his stance on Bitcoin, explaining that the company does not plan to sell its Bitcoin holdings anytime soon. So far, the company has not made its exit plan, or if there is one, public yet. So for now, the focus remains on the company’s BTC buys rather than a possible sell.