A major shift is underway in BTC ownership dynamics, as Strategy (MSTR) has overtaken BlackRock’s IBIT ETF in total Bitcoin holdings. The development signals growing corporate dominance in Bitcoin accumulation, with projections now suggesting that Strategy could surpass even Satoshi Nakamoto’s estimated holdings within the next two years.
Strategy now officially surpasses BlackRock’s IBIT ETF as the biggest corporate owner of Bitcoin by a considerable margin, owning more than 815,000 BTC compared to just over 800,000 BTC held by the ETF.
This development shows that Strategy’s acquisition strategy has been aggressive and has seen its pace pick up recently. Much of its growth can be attributed to bulk buys, such as buying more than 34,000 BTC in one week.
In addition, this move shows that the structure of Bitcoin holders has shifted from being mostly institutions to becoming a mix of corporations. In light of this, Strategy’s influence on the ecosystem is increasing due to this reason.
Also Read: Bitcoin’s (BTC) Massive 1 Core Strength: Everyone Is Satoshi
The emergence of Strategy was driven by steady and considerable accumulation of Bitcoins. Indeed, Strategy has managed to consistently increase its position from around 200,000 BTCs to above 815,000 BTCs via raising money and purchasing the coins.
This is achieved by using an interesting combination of equity issuances and other ways of funding to make purchases of Bitcoins, thus transforming the company into a kind of leveraged bet on Bitcoin. Strategy was able to grow at a pace unmatched by most institutions.
In particular, 2026 was characterized by impressive rates of accumulation, with some days producing more than 1,700 Bitcoins. As a result, Strategy is way ahead of its competitors when it comes to accumulating Bitcoins.
According to analysis from Galaxy Research, Strategy is now on track to surpass Satoshi Nakamoto’s estimated 1.096 million Bitcoin holdings. In a high-growth scenario, this milestone could be reached as early as September 2026 if current accumulation rates continue. More moderate projections suggest timelines extending into 2027 or early 2028, depending on market conditions.
Such projections, while speculative, underscore the scale of Strategy’s accumulation relative to total Bitcoin supply. If achieved, it would mark a historic shift in ownership concentration within the Bitcoin network.
Strategy’s growing dominance raises important questions about market structure and risk. Holding nearly 4% of Bitcoin’s total supply gives the company significant influence over liquidity and price dynamics.
Large, concentrated holdings can amplify both upside and downside movements, depending on whether accumulation or distribution occurs. Market participants may increasingly monitor Strategy’s activity as a leading indicator of institutional sentiment.
At the same time, the comparison with IBIT highlights differing approaches to Bitcoin exposure. While ETFs provide diversified access for investors, Strategy represents a highly concentrated corporate bet on Bitcoin’s long-term value.
Also Read: Bitcoin (BTC) Whales Signal Drastic Breakout as Price Hits 11-Week High
