Strategy Could Reach 1 Million Bitcoin by Late 2026; River Notes STRC Inflows Dwarf ETF Net Gains

Key Takeaways:

• Strategy acquired 34,164 BTC for $2.54 cardinal connected April 20, 2026, bringing full holdings to 815,061 coins.
• River information shows STRC preferred banal proceeds outpaced each spot Bitcoin ETF nett inflows by astir 10 to 1.
• At the existent regular gait of 774 BTC, Strategy is projected to scope 1,000,000 Bitcoin by December 15, 2026.

River Says Strategy’s STRC Financing Outperforms Bitcoin ETFs Ten to One successful 2026

The bitcoin treasury institution Strategy (Nasdaq: MSTR) disclosed the acquisition successful an April 20 SEC filing. The 34,164 BTC outgo astir $2.54 billion, with an mean terms of $74,395 per coin. Executive president Michael Saylor remarked that the latest acquisition pushed the firm’s year-to-date bitcoin output to 9.5%.

The buying is being driven mostly by Strategy’s STRC preferred banal program, known arsenic “Stretch.” The instrumentality pays an 11.5% monthly dividend output to holders, allowing the institution to rise superior without selling existing bitcoin. That superior goes straight into caller purchases. Since January 2025, the steadfast has made 57 abstracted acquisitions totaling 367,593 BTC implicit sixteen months.

Image source: River via X.

The standard of Strategy‘s buying is pulling acold up of the U.S. spot bitcoin exchange-traded money (ETF) market. According to information from the bitcoin concern level River, the STRC programme unsocial has purchased astir 77,000 BTC truthful acold successful 2026. All U.S. spot bitcoin ETFs combined person seen nett inflows of 8,000 BTC implicit the aforesaid period.

On X River wrote:

“STRC has bought 10X much bitcoin than each ETFs truthful acold successful 2026.”

Strategy presently holds bitcoin valued astatine astir $58.7 cardinal and carries a nett leverage ratio of astir 10%. The latest acquisition was funded done at-the-market (ATM) programs tied to some STRC shares and Class A communal stock.

With 815,061 BTC connected hand, the institution needs different 184,939 coins to scope 1 million. At its humanities complaint of astir 774 BTC per time (over the past 57 purchases), mathematics puts the milestone astir Dec. 15, 2026. Actual buying tends to hap successful ample bursts tied to financing windows, but the pace, astatine slightest truthful far, makes that people realistic wrong the calendar year.

Strategy‘s holdings behave otherwise from ETF-held bitcoin. ETFs tin spot accelerated outflows during terms drops. Strategy treats its bitcoin arsenic a imperishable reserve plus and has fixed nary denotation it plans to sell. This has been seen adjacent erstwhile BTC dropped beneath the company’s mean bargain position. That favoritism affects however the company’s buying unit registers successful the market; the coins spell successful and enactment there.

The way to a cardinal bitcoin depends connected continued request for the STRC instrumentality and dependable entree to superior markets. Both conditions stay successful spot done April 2026.