Good Heavens! Strategy’s BTC Hoard Could Outshine Old Satoshi’s Stash!

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Well, I say, old bean, Galaxy’s Alex Thorn has let slip a corker of a tidbit: Strategy, that plucky accumulator of Bitcoin, has apparently overtaken BlackRock’s IBIT in the great game of “Who’s Got the Most BTC?” And if the chap keeps up this pace, he’ll be knocking on the door of Satoshi Nakamoto’s legendary 1.1 million BTC pile within a couple of years. Toodle pip, scarcity!

  • Alex Thorn, the egghead at Galaxy, chirps that Strategy now holds more Bitcoin than BlackRock’s IBIT, the top dog in the spot BTC ETF kennel.
  • At this rip-roaring rate, he reckons Strategy could give old Satoshi a run for his money-or rather, his 1.1 million BTC-in a mere two years.
  • Should this come to pass, Strategy would join the ranks of the Bitcoin bigwigs, rubbing shoulders with ETFs and those ancient, cobweb-covered early-mined coins.

Now, old Thorn, Galaxy’s head of research (a fellow who clearly knows his onions), has pointed out that Strategy’s Bitcoin stash has pipped BlackRock’s iShares Bitcoin Trust (IBIT) at the post. In a jolly post on X, he remarked that on-chain and treasury-tracking data reveal Strategy as the “largest single BTC‑holding entity,” leaving IBIT in the dust while scooping up coins on the dips like a chap with a silver spoon and a penchant for bargains.

Thorn, ever the optimist, adds that if Strategy keeps its nose to the grindstone-or rather, its wallet to the market-it could soon be giving Satoshi’s fabled hoard a run for its money. Satoshi’s pile, mind you, is estimated at a cool 1.1 million BTC, roughly 5.5% of the total supply, and has been sitting tighter than a drum since 2010. This, of course, has done wonders for Bitcoin’s mystique and its “diamond hands” cult.

Bigger than the Biggest ETF, Don’t You Know

BlackRock’s IBIT has been the bee’s knees in the U.S. spot Bitcoin ETF scene since its debut in January 2024, hoarding over 700,000 BTC in less than 18 months and occasionally holding more than 56% of all spot ETF Bitcoin. Recent figures put IBIT’s BTC stash north of 800,000 coins, worth a staggering $50 billion at current prices. Not too shabby, what?

Strategy, however, has been giving IBIT a run for its money, with its treasury now holding an estimated 760,000 BTC or more after adding a tidy 80,000 BTC year-to-date. One Binance-hosted update earlier this month confirmed that Strategy still sits pretty with around 762,000 BTC, even after pausing its buying spree. Talk about keeping your powder dry!

Marching Towards Satoshi-Scale Holdings, By Jove

The comparison with Satoshi is more than just a bit of fun and games. Analysts-those clever chaps with their charts and graphs-point out that if Strategy keeps up its current buying spree, it could cross the 1 million BTC mark within a couple of years, putting it in the same league as those dormant founder coins that haven’t budged since the dawn of Bitcoin.

This concentration, of course, raises a few eyebrows. The bulls-ever the optimists-argue that deep-pocketed, long-term holders reduce the available float and prop up the price, while the naysayers warn that megatreasuries and ETFs introduce corporate and regulatory chokepoints into what was meant to be a decentralized asset. For now, Thorn’s takeaway is as clear as a bell: in the race to own the scarcest large-cap asset in crypto, one aggressive buyer is hot on the heels of Bitcoin’s mythical creator.

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2026-04-23 18:00