A major shift is unfolding in the institutional Bitcoin landscape as Strategy edges past BlackRock in total BTC holdings. The development underscores an aggressive accumulation strategy that continues to reshape the balance of power among corporate and institutional players.
Strategy’s Bitcoin Holdings Top 4%, Surpassing BlackRock
According to CryptoQuant analyst Darkfost, Michael Saylor’s strategy has now surpassed BlackRock’s Bitcoin reserve following its latest acquisition. Darkfost noted that the firm edged out the asset manager after announcing the purchase of an additional 34,164 BTC worth $2.54 billion, marking its largest weekly accumulation in over a year. Notably, BlackRock’s BTC holdings stood at 802,823 BTC as of April 17, 2026, placing it just behind Strategy after the latest update.
The latest purchase pushed Strategy’s total holdings to 815,061 BTC, valued at approximately $61.24 billion, further cementing its position as the largest corporate holder of Bitcoin. More significantly, the acquisition takes Strategy’s control to over 4% of Bitcoin’s total supply, bringing it closer to its long-term target of accumulating between 5% and 7% of the asset’s supply.
Meanwhile, the timing of the purchase is equally notable, as Strategy’s Bitcoin position has now returned to breakeven, ending a period of unrealized losses that began in early February. According to Darkfost, the firm is once again in profit, currently holding an estimated $242 million gain, reflecting renewed strength in Bitcoin’s price action.
Institutional Competition for BTC Intensifies Amid ETF-Driven Momentum
The latest move signals an escalation in the race among institutions to secure Bitcoin positions ahead of potential future scarcity. The recent purchase also coincides with renewed bullish momentum in BTC, largely driven by steady inflows into crypto exchange-traded funds.
Data from SoSoValue shows that Bitcoin ETFs recorded their fifth consecutive day of inflows on April 20, 2026, attracting $238.37 million in fresh capital. Cumulative inflows have now climbed to $57.98 billion, with total net assets under management reaching $100.33 billion, highlighting sustained institutional demand.
Beyond Bitcoin, other crypto investment products also posted gains. Ethereum ETFs saw $67.77 million in inflows, while XRP-linked products recorded a modest $3 million increase. The uptick in inflows suggests a broader rise in risk appetite, partly fueled by expectations surrounding a potential second round of peace negotiations between the United States and Iran as a two-week ceasefire nears its end.
Market data from CoinGlass further supports the bullish outlook, showing that over $171 million in short positions were liquidated within the past 24 hours—signaling strong buyer dominance. However, sentiment remains cautiously balanced, as the crypto Fear and Greed Index still sits in the “fear” zone at 33, up 4 points over the last 14 hours, indicating gradual improvement in market confidence.
Josiah Oluwadare
