Strategy Inc. (Nasdaq: MSTR) disclosed on April 20, 2026, the acquisition of 34,164 bitcoin for approximately $2.54 billion, at an average price of $74,395 per coin. The purchase brings the company's total holdings to 815,061 BTC, valued at roughly $58.7 billion. Executive chairman Michael Saylor noted that the year-to-date bitcoin yield has reached 9.5%.
STRC Preferred Stock: A New Engine for Bitcoin Accumulation
Strategy's aggressive buying is being fueled primarily by its STRC preferred stock program, dubbed “Stretch.” The instrument pays an 11.5% monthly dividend yield to holders, allowing the firm to raise capital without selling existing bitcoin. Since January 2025, the company has completed 57 separate acquisitions totaling 367,593 BTC over sixteen months.
According to data from bitcoin investment platform River, the STRC program alone has purchased approximately 77,000 BTC so far in 2026, while all U.S. spot bitcoin ETFs combined have seen net inflows of just 8,000 BTC during the same period—a ratio of nearly 10 to 1. River posted on X: “STRC has bought 10X more bitcoin than all ETFs so far in 2026.”
Path to One Million Bitcoin: A Realistic Target by Year-End
With 815,061 BTC on hand, Strategy needs an additional 184,939 coins to reach the 1 million milestone. At its historical average pace of approximately 774 BTC per day (based on the last 57 purchases), the company is projected to hit 1,000,000 bitcoin around December 15, 2026. Although actual purchases tend to occur in large bursts aligned with financing windows, the current rate makes the target achievable within the calendar year.
Unlike ETFs, which can experience rapid outflows during price declines, Strategy treats its bitcoin as a permanent reserve asset. The company has never indicated plans to sell, even when BTC prices fell below its average acquisition cost. This distinction means that coins purchased by Strategy are effectively removed from circulating supply. The firm currently carries a net leverage ratio of approximately 10%, and the latest purchase was funded through at-the-market (ATM) programs tied to both STRC shares and Class A common stock.
Analysts note that the path to 1 million bitcoin depends on continued demand for the STRC instrument and steady access to capital markets. As of April 2026, both conditions remain favorable.