Strategy Tops BlackRock in Race to Hold 1 Million Bitcoin

Strategy holds 843,738 BTC while BlackRock’s iShares Bitcoin Trust holds 817,138 BTC, a gap of about 26,600 coins as both firms pursue ownership of 1 million bitcoin.

Strategy overtook BlackRock in April after a single-week purchase of 34,164 BTC for $2.54 billion. The firm then bought 24,869 BTC for $2.01 billion, bringing its total to 843,738 BTC. Strategy has acquired nearly 80,000 BTC so far in 2026.

Strategy has financed purchases with perpetual preferred equity offerings and at-the-market share sales. JPMorgan estimates the firm’s bitcoin purchases in 2026 could reach $30 billion, a pace that would make 1 million coins attainable before the 2028 bitcoin halving.

BlackRock added 39,286 BTC this year and holds 817,138 BTC in its ETF. BlackRock also owns roughly a 5% stake in Strategy, giving it indirect exposure to Strategy’s 843,738 coins in addition to its direct ETF holdings.

To reach 1 million bitcoin, Strategy needs about 156,262 more BTC and BlackRock about 182,862. At current annualized purchase rates, either firm could cross the threshold within roughly 18 to 24 months.

One million bitcoin represents about 4.76% of the asset’s 21 million cap. Concentrated holdings and cross-ownership by large institutions change the amount of bitcoin available to other market participants and factor into ongoing discussions about supply distribution in the market.