Is Strategy About to Hold More Bitcoin Than BlackRock’s IBIT Fund?

Bitcoins TLDR:

• Strategy holds approximately 761,000 BTC, trailing BlackRock’s IBIT by roughly 40,000 BTC currently.
• MSTR raises capital via equity and debt to buy Bitcoin directly, bypassing ETF demand dependency entirely.
• Strategy added 40,332 BTC in the first two weeks of March 2026, posting a 3.0% BTC yield.
• Bitcoin recorded eight straight days of gains, with past streaks delivering a median 30-day return of 19%.

Michael Saylor’s strategy has narrowed the Bitcoin holdings gap with BlackRock’s iShares Bitcoin Trust to roughly 40,000 BTC through relentless capital raises and direct purchases. With Bitcoin recovering steadily from February lows, the distance between the two could vanish within weeks.

Bitcoins Strategy’s Accumulation Model Sets It Apart

MSTR Bitcoin holdings currently stand at approximately 761,000 BTC. BlackRock’s iShares Bitcoin Trust holds roughly 781,000 BTC, leaving a gap of around 40,000 BTC. 

Investor Mark Harvey noted that the difference has tightened considerably in recent weeks. Strategy raises capital through equity and preferred share issuance to fund direct Bitcoin purchases. 

This model allows it to accumulate Bitcoin independent of ETF demand cycles. IBIT, by contrast, grows only when investor inflows are strong.

The company completed two multibillion-dollar Bitcoin purchases in March. Last week alone, it acquired 2,337 BTC for approximately $1.57 billion. 

Over the first two weeks of March 2026, Strategy added 40,332 BTC and recorded a 3.0% BTC yield. Michael Saylor shared the firm’s year-to-date figures via X, noting sustained momentum behind its treasury approach.

Strategy frames Bitcoin accumulation as its core performance measure, using “BTC Gain” as a proxy for net income. Its long-term holding approach also removes coins from active circulation, gradually tightening available market supply.

Bitcoins Bitcoin’s Recovery Strengthens the Backdrop

Bitcoin bottomed near $63,000 in February amid geopolitical tensions tied to the Iran–Israel War. Prices recovered steadily after macroeconomic conditions stabilised and investor confidence returned. 

The asset recently climbed from below $66,000 to $76,000 before easing near $73,800. Bitcoin has now recorded eight consecutive days of price gains. 

According to Bitcoin Magazine Pro data, this streak has occurred only 15 times since Bitcoin’s creation. Past instances produced a median 30-day return of roughly 19%, though sharp pullbacks have also followed such runs.

Markets received a further boost over the weekend after signs of easing tensions around the Strait of Hormuz. Bitcoin also outperformed gold and the S&P 500 during this period. 

Traders are now watching whether prices can hold above $72,000, a level that could open the path toward $80,000.