MicroStrategy buys 34,164 BTC in one week, spending $2.54 billion: the third-largest purchase in history, with total holdings of 815k BTC surpassing BlackRock

According to CoinDesk reporting and synchronized revelations from Bloomberg and Bitcoin Magazine, Michael Saylor-led MicroStrategy (Strategy, formerly MicroStrategy) last week purchased 34,164 BTC, spending $2.54 billion, with an average acquisition cost of $74,395. This was the company’s third-largest single purchase ever, and also its largest weekly buy since November 2024. Total holdings reached 815k BTC, officially surpassing BlackRock’s IBIT ETF’s 803k BTC, making it the world’s largest Bitcoin holding institution.

Fundraising structure: STRC supports the main push

The $2.54 billion funding in this round is split into two parts: $2.18 billion obtained through the issuance of STRC perpetual preferred shares, and another $366 million raised from the common stock market. This marks the first large-scale funding by MicroStrategy since it announced on April 18, 2026 that STRC would switch to paying dividends every half month, and it was immediately converted into BTC holdings—validating Saylor’s argument to friends and family that STRC “provides predictable cash flow + an indirect BTC exposure.”

As perpetual preferred stock, STRC has fixed dividend characteristics, making it more attractive to institutional investors that prefer fixed-income products. MicroStrategy then directly deploys the cash generated from these stable sources into the BTC market, forming a capital cycle of “raising funds through fixed-income products → converting into BTC growth exposure.” This structure means MicroStrategy’s BTC accumulation speed is not entirely affected by the MSTR stock price; instead, even when the stock price fluctuates, it can still obtain new capital through the preferred-share channel.

Market signals: Institutional buying against the tide during BTC’s $74K range

The average cost of this purchase was $74,395, which closely reflects the choppy range in which BTC traded amid the back-and-forth in the tensions between the U.S. and Iran, the Strait of Hormuz reopening and then re-closure, and the spot ETF’s overlapping forces of $996 million in weekly inflows. MicroStrategy chose to deploy $2.54 billion in a single move at this time—an unmistakable “buying against the tide” signal.

The move also rewrote the institutional BTC holdings landscape. BlackRock’s IBIT previously became the world’s largest holder with more than 800k BTC; MicroStrategy has now broken past 815k, reclaiming the lead position. The institutional BTC accumulation race has evolved from a symbolic milestone of “competing for weekly ETF inflow rankings” to a symbolic milestone of “total holdings rankings.”

MSTR stock faces near-term pressure, but institutional allocation continues

The market’s immediate reaction to this large-scale purchase was mixed. MSTR stock fell by more than 2.5% in pre-market trading, reflecting some investors’ concerns about dilution from the share issuance. But from a long-term perspective, MicroStrategy’s BTC per share continues to rise—this is the real valuation anchor Saylor has long emphasized. Over the past three years, MSTR’s stock price has moved with BTC; however, whenever the company raises funds to buy new BTC, the leverage multiple of MSTR during the next BTC upswing typically becomes even larger.

For institutional investors, MSTR offers “BTC leverage within regulated capital markets”—something that simply holding a BTC ETF cannot do. Coupled with this week’s triple signals aligning at the same time: Nomura’s survey showing 65% of Japanese institutions view BTC as a diversification allocation, the spot BTC ETF’s $996 million weekly inflow, and MicroStrategy’s $2.54 billion purchase, the structural trend of institutional capital flowing back to BTC is being validated.

Meaning for investors in Taiwan

For investors in Taiwan, three paths allow participation in the same narrative: (1) Buy BTC directly—through local compliant exchanges such as BitoPro, MAX, and HOYA BIT; (2) Buy MSTR shares via managed account trading—enjoy institutional leverage amplification of BTC performance; (3) Through STRC preferred shares—suitable for investors who prefer fixed income but want indirect BTC exposure.

Key points to watch next: whether MicroStrategy’s Q2 earnings report discloses a more aggressive STRC issuance plan, whether BTC can break through $74K and return above $78K, and whether BlackRock’s IBIT weekly inflows this week will surpass MicroStrategy’s purchase amount and retake the #1 spot. No matter the outcome, the drama of the institutional-level BTC competition will enter a new high in 2026.

This article MicroStrategy buys 34,164 BTC in one week, spending $2.54 billion: the third-largest purchase in history, total holdings of 815k BTC surpassing BlackRock first appeared on Chain News ABMedia.