Key Takeaways:
Michael Saylor’s Strategy may be preparing for a significant Bitcoin purchase that would push its corporate treasury past the holdings of BlackRock’s iShares Bitcoin Trust (IBIT), following an April 19 post on X from the executive chairman.
"Think Even ₿igger," Saylor wrote in a post accompanying a screenshot of the company’s Bitcoin portfolio, a phrase traders now associate with an impending treasury expansion.
To exceed BlackRock's current 270,000 BTC, Strategy would need to acquire more than 15,000 BTC, a purchase worth over $1.27 billion at current prices. The company's last reported holdings were approximately 255,000 BTC.
The move underscores the escalating competition for Bitcoin between corporate treasuries and spot ETF issuers. Another nine-figure purchase from Strategy would further reduce the available free float of BTC on exchanges, potentially creating price support ahead of the next Bitcoin halving.
Strategy, the business intelligence firm formerly known as MicroStrategy, has made Bitcoin accumulation a core part of its corporate identity. The company pioneered the use of corporate debt to fund Bitcoin purchases, a strategy that has since been validated by the token's significant price appreciation.
This latest signal could ignite speculative buying, with open interest and funding rates on derivatives exchanges likely to rise in anticipation of a formal announcement. As of April 20 at 05:00 UTC, Bitcoin traded at approximately $85,000, up 2.5% in the hours following Saylor's post. The next key resistance level is seen at the $90,000 psychological barrier, with support near the $82,500 mark.
The dynamic highlights a growing institutional race, pitting a single public company's treasury against a fleet of Wall Street ETFs, including those from Fidelity (FBTC) and Ark Invest (ARKB), in the quest to accumulate the world's largest cryptocurrency.
This article is for informational purposes only and does not constitute investment advice.
