STRC Becomes Key Weapon? Strategy Approaches BlackRock Bitcoin Holdings, Institutional Showdown Enters Peak Competition

Gate News, March 19 — Led by Michael Saylor, Strategy is accelerating to catch up with BlackRock in Bitcoin holdings. Data shows that Strategy currently owns approximately 761,068 Bitcoins, valued at nearly $57 billion, trailing BlackRock’s products by only about 21,000 Bitcoins, with the gap continuing to narrow.

One of the key tools driving this progress is the preferred stock product STRC issued by Strategy. This instrument features a floating interest rate, no fixed maturity date, and offers an approximate 11.5% yield, ranking ahead of common stock in the company’s capital structure. Market analysis suggests that STRC provides a stable financing channel for Strategy amid market volatility, enabling continued accumulation during Bitcoin price corrections.

Recently, Strategy raised about $283 million through STRC to purchase up to 4,000 Bitcoins. In its latest Bitcoin acquisition plan totaling around $1.5 billion, STRC contributed approximately 75% of the funding. In contrast, BlackRock mainly relies on investor capital inflows to gradually increase holdings, with its pace more dependent on market sentiment and liquidity conditions.

Since 2026, Strategy has invested over $7 billion in Bitcoin, most of which was deployed after prices retreated from highs. This counter-cyclical accumulation strategy has positioned it as a dominant corporate Bitcoin holder and further narrowed the gap with institutional products.

However, this approach also carries potential risks. Strategy’s ongoing issuance of convertible bonds and equity financing has led to continuous dilution of shares, with its stock price down about 45% from its peak. If capital markets tighten or investor confidence wanes, its financing capacity could be limited.

Analysts note that Strategy relies on structured financing for large-scale purchases, while institutional products are more driven by market cycles. The future trajectory of Bitcoin holdings competition will depend on macro liquidity, risk appetite, and whether financing channels remain open.