Strategy Overtakes BlackRock to Become Largest Institutional Bitcoin Holder

Strategy Inc. (MSTR) has overtaken BlackRock's iShares Bitcoin Trust ETF (IBIT) to become the world's largest institutional holder of bitcoin, according to CoinDesk. In an April 20, 2026 Form 8-K filed with the U.S. Securities and Exchange Commission, the company disclosed it bought 34,164 bitcoins between April 13 and 19 at an average price of $74,395 per coin. The purchase followed the company's use of the full $2.54 billion raised in a public stock offering. As of publication, Strategy held 815,061 BTC valued at about $61.14 billion. By comparison, IBIT held 802,823.45 BTC as of April 17, worth roughly $60.22 billion. IBIT posted $906.09 million in net inflows last week, and Finbold data indicated the fund added about 11,000 BTC over the period. Reports also suggest BlackRock's position could be influenced by buying MSTR shares rather than additional IBIT shares. Separately, filings cited in reports show that as of Dec. 31, 2025, BlackRock owned 14.61 million Strategy shares valued at approximately $2.39 billion, based on Yahoo Finance data. A related analysis argued that investors have increasingly favored Strategy over spot Bitcoin ETFs, pointing to a 9.5% year-to-date Bitcoin return and the company's equity-financed accumulation approach, which has supported higher earnings per share. Michael Saylor, Strategy's founder and chairman, said the company plans to change STRC's dividend schedule from monthly to biweekly while keeping the annual dividend obligation and dividend rate unchanged. He said the change is intended to stabilize the share price, reduce cyclical volatility, improve liquidity, and support demand. Strategy has drawn additional capital from major institutions. Reported holders and supporters include Vanguard Group Inc., Capital International Investors, BlackRock, Capital Research Global Investors, State Street Corporation, UBS Group AG, Amundi, Geode Capital Management LLC, and Bank of America.