MicroStrategy on track for 1M BTC by Dec. 15, 2026

MicroStrategy disclosed in an April 20 SEC filing that it bought 34,164 bitcoin for about $2.54 billion, an average of $74,395 per coin. The purchase raised the company’s holdings to 815,061 BTC. The latest buys were funded through at-the-market offerings of STRC preferred shares and Class A common stock.

Since January 2025 the firm has completed 57 separate bitcoin purchases totaling 367,593 BTC over 16 months. With 815,061 coins on the balance sheet, MicroStrategy needs 184,939 more to reach one million. Using the firm’s recent buying rate of roughly 774 BTC per day, calculated from those 57 transactions, the company would reach 1,000,000 BTC around Dec. 15, 2026. Actual purchases have typically come in concentrated bursts tied to financing windows rather than as steady daily buys.

Data from the digital-asset platform River shows MicroStrategy’s STRC financing program has outpaced other institutional buying in 2026. River reports STRC has acquired about 77,000 BTC so far this year, while all U.S. spot bitcoin ETFs combined recorded roughly 8,000 BTC in net inflows over the same period. River wrote on social media: “STRC has bought 10X more bitcoin than all ETFs so far in 2026.”

STRC, marketed as “Stretch,” is a preferred stock issuance that pays an 11.5% monthly dividend yield to holders. MicroStrategy uses proceeds from STRC and other financings to buy additional bitcoin instead of selling existing holdings. Michael Saylor noted the April 20 purchase raised the firm’s year-to-date bitcoin yield to 9.5%.

MicroStrategy’s treasury currently holds roughly $58.7 billion in bitcoin and the firm reports a net leverage ratio near 10%. The company treats its bitcoin as a permanent reserve asset and has not indicated plans to sell coins held on its balance sheet.

The timing of reaching one million bitcoin depends on continued investor demand for STRC and ongoing access to capital markets. If the company maintains its current pace of issuance and purchases, the Dec. 15, 2026 estimate follows from the firm’s recent buying rate. If STRC demand softens or capital markets tighten, the date would shift.