Strategy (MSTR) is closing in on BlackRock’s iShares Bitcoin Trust (IBIT), and the gap in Bitcoin holdings is narrowing to a level that could be erased in the next two weeks.
Recent data shows that IBIT holds approximately 781,000 BTC, while Strategy holds around 761,000 BTC. The difference, now around 40,000 BTC, has narrowed as Strategy accelerates its pace of accumulation, according to investor Mark Harvey.
The change reflects divergent models. IBIT’s holdings rise and fall based on investor inflows and outflows into its spot ETF, while Strategy raises capital through the issuance of shares and preferred stock to fund direct purchases of Bitcoin.
This allows Strategy to acquire Bitcoin regardless of ETF demand cycles.
The strategy has added significant volume in recent weeks, including two multibillion-dollar purchases in March that pushed its total higher. Last week, the company bought 2,337 bitcoins for around $1.57 billion.
The company continues to frame its performance around Bitcoin accumulation and “BTC profit” as an indicator of net income under its Bitcoin-focused strategy.
During the first two weeks of March 2026, Strategy acquired 40,332 BTC and posted a 3.0% return, reinforcing its aggressive treasury approach, according to Michael Saylor.
So far this year, the company has accumulated 88,568 BTC with a return of 3.4%, indicating sustained momentum behind its balance sheet transformation.
The strong march of Bitcoin and the strategy
Bitcoin has recorded eight consecutive days of gains, a rare streak seen only 15 times since its inception, and previous instances saw a 30-day average return of around 19%, according to Bitcoin Pro Magazine data.
Bitcoin recently rose from below $66,000 to $76,000 before retreating near $73,800, even as historical patterns show such rallies can precede sharp pullbacks like the 30% drop four years ago.
Bitcoin’s latest surge comes after the asset bottomed near $63,000 in February during intense geopolitical tensions linked to the war between Iran and Israel.
Since then, prices have seen a steady recovery as macroeconomic conditions stabilized and investor confidence returned.
Bitcoin has outperformed other assets such as gold and the S&P 500.
Markets received a boost over the weekend after signs of easing tensions around the Strait of Hormuz, one of the world’s most important oil shipping routes.
For now, traders are watching if bitcoin price can hold support above the $72,000 region.
A sustained hold above that level could open the door to a push towards $80,000, which previously acted as a key support zone ahead of the early 2026 correction.
MSTR stock is trading today at $150 per share.