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- Michael Saylor targets $1 trillion in Bitcoin reserves for Strategy and then growing it 20–30% annually.
- BlackRock iShares Bitcoin Trust (IBIT) is reaching $100 billion in assets under management and is a leading competitor to Strategy.
With $80 billion in Bitcoin reserves, Michael Saylor’s Strategy (NASDAQ: MSTR) has attained the distinction of becoming the fifth-largest US corporation in terms of treasury holdings. As a result, Strategy is just behind the top four giants, Berkshire Hathaway, Amazon, Google, and Microsoft, in terms of company cash reserves.
The latest uptick in reserves comes as the BTC price surged to an all-time high of $126,000 this week.
Strategy’s Bitcoin Holdings Value Soars Amid Price Rally
According to its latest SEC filing, Strategy disclosed that it held 640,031 Bitcoin as of October 5, for an investment value of approximately $47.35 billion. The firm did not add to its Bitcoin position between September 29 and October 5, maintaining an average cost basis of $73,983 per BTC.
Despite Saylor pausing any fresh BTC purchases this week, the value of Strategy’s BTC holdings soared to $79 billion, as reported by CNF. The strong performance of Bitcoin in Q3 2025 contributed significantly to the increase.
In a recent conversation, Michael Saylor said that the endgame is to accumulate a $1 trillion worth of Bitcoins. Saylor said,
I think the endgame is we accumulate a trillion dollars worth of bitcoin and then we grow it 20, 30% a year. The endgame is to get to a trillion dollars of collateral growing 30% a year.
Strategy’s board approved raising Michael J. Saylor’s annual security spending limit to $2 million, up from $1.4 million, effective October 1, 2025. Despite the increase, the company remains heavily leveraged, with substantial debt exposure that could affect its ability to secure new capital and continue executing its Bitcoin strategy.
BlackRock Bitcoin ETF (IBIT) On Strong Accumulation Race
Amid the massive accumulation taking place over the past few weeks, BlackRock Bitcoin ETF (IBIT) has surpassed Saylor’s strategy, with AUM now reaching $100 billion. On Tuesday, October 7, BlackRock’s iShares Bitcoin Trust (IBIT) saw a net inflow of 7,401 BTC, worth roughly $899.47 million, its fourth-largest single-day inflow since inception.
The ETF also registered a sharp uptick in trading activity, with daily volume reaching $5.7 billion.
Last week, BlackRock’s iShares Bitcoin Trust (IBIT) led all exchange-traded funds (ETFs) in weekly inflows, attracting $3.5 billion. This accounted for 10% of total ETF net inflows, according to Bloomberg analyst Eric Balchunas.
Balchunas noted that all 11 spot Bitcoin ETFs, including Grayscale’s GBTC, reported positive inflows during the same period, highlighting strong investor demand across the category.
Amid this accumulation, the IBIT share price has surged to an all-time high of $71, extending its six-month gains to 60%. On the other hand, the MSTR stock has been underperforming during this period. However, market analyst Michael explained the difference between it, noting:
To be fair the main difference between IBIT and MSTR comes down to their mNAV. IBIT’s mNAV stays locked at 1 which means it directly mirrors Bitcoin’s price with no premium or discount. MSTR’s mNAV fluctuates. That can be a good thing if you catch it when it’s trading at a premium but it cuts both ways.
