With the purchase of 22,048 Bitcoin on Monday, Strategy (formerly Microstrategy) increased its total holdings to 528,185 BTC, positioning the company as the second-largest corporate holder of the leading cryptocurrency, surpassed only by BlackRock‘s IBIT exchange-traded fund (ETF).
With the purchase of 22,048 Bitcoin on Monday, Strategy (formerly Microstrategy) increased its total holdings to 528,185 BTC, positioning the company as the second-largest corporate holder of the leading cryptocurrency, surpassed only by BlackRock’s IBIT exchange-traded fund (ETF).
Excluding cryptocurrency exchanges, Strategy now ranks second only to BlackRock’s IBIT in corporate BTC holdings, which holds 575,856.02 BTC (equivalent to $48.27 billion). To surpass IBIT, Strategy would need to secure an additional 47,671.02 BTC—$3.99 billion in value.
Although Strategy can outperform the ETF, the fund operates daily (on business days) with inflows and occasional outflows. Strategy’s BTC reserves remain static, with no outflows, while IBIT can accumulate additional holdings on business days when demand arises, potentially increasing its reserves.
Following IBIT, Fidelity’s FBTC ETF holds 196,932.78 BTC, valued at $16.5 billion. Grayscale’s GBTC follows closely behind, retaining 193,466.08 BTC, valued at $16.21 billion today. Without ETFs, Strategy is the leading publicly traded company with BTC on its balance sheet.
Together, Strategy, IBIT, FBTC, and GBTC control 1,494,439.88 BTC. This means that of the 19.84 million BTC currently in circulation, these four entities represent 7.53% of the total supply.
The convergence of significant corporate holders like Strategy, continued ETF accumulation, and anticipated purchases for a US Strategic Bitcoin Reserve (SBR) and global equivalents could reduce Bitcoin’s liquid supply, potentially creating a scarcity scenario if demand remains at current levels.
Notably, Bitcoin’s divisibility (up to 0.00000001 BTC) ensures that even if the availability of whole coins becomes scarce, trading satoshis can preserve liquidity to maintain market momentum.
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