MicroStrategy's STRC Surpasses ETFs in Bitcoin Acquisitions

MicroStrategy's STRC perpetual preferred stock has been making significant strides in acquiring bitcoin, surpassing the collective efforts of US spot exchange-traded funds (ETFs) this year. As of April 2026, STRC-linked acquisitions have totaled over 77,000 BTC, a substantial increase compared to the approximately 8,000 BTC netted by all ETFs.

The company's strategy involves issuing new shares when its preferred stock trades at or above par value, allowing it to channel funds directly into bitcoin purchases without diluting common stock. This unique approach has created a distinct accumulation channel that is outpacing traditional passive fund demand.

MicroStrategy's holdings now top 815,000 BTC, surpassing IBIT's 806,178 BTC. If the company continues issuing STRC at its current pace, projections suggest it could cross 1 million BTC by late 2026.