Strategy Wants 1,000,000 Bitcoin Treasury And This Is How They Plan To Get To That Number

Strategy’s Bitcoin playbook is now not just about buying dips. The firm has turned its steadiness sheet right into a capital machine constructed round one essential goal of accelerating the quantity of Bitcoin it controls with out weakening the quantity of Bitcoin hooked up to every share.  Recent filings by the corporate now present that it’s planning to repurchase $1.5 billion principal quantity of 2029 convertible notes.

Strategy Is Getting Closer To 1,000,000 Bitcoin

Strategy’s latest reported Bitcoin reserve reveals how far the corporate’s accumulation technique has come. The agency’s Bitcoin buy web page lists 843,738 BTC, acquired at a median value of $75,700 per Bitcoin. 

This means Strategy now controls about 4.02% of Bitcoin’s mounted 21 million provide. The 1,000,000 BTC threshold would increase that share to about 4.76%, making Strategy one of the crucial necessary single holders within the Bitcoin market. At the present stage, the corporate doesn’t have to double its holdings. It wants so as to add about 18.5% extra Bitcoin to cross the 1,000,000 BTC line.

The tempo of shopping for has also increased in 2026. Strategy said it held 818,334 BTC as of May 3, 2026, representing 22% development year-to-date, and stated it had raised $11.68 billion year-to-date at that time. Less than three weeks later, the corporate has purchased one other $2 billion price of Bitcoin, lifting its holdings to 843,738 BTC.

Strategy Repurchasing Convertible Notes

Strategy’s path to acquiring 1,000,000 BTC is dependent upon its skill to maintain elevating capital with out damaging the worth of its Bitcoin per share. Strategy sells monetary devices like convertible notes to traders who need publicity to its Bitcoin construction, then makes use of the proceeds to purchase extra Bitcoin. 

If the Bitcoin added is price extra per share than the dilution or value created by the financing, the corporate can report a constructive Bitcoin yield. At the time of writing, Strategy has a Bitcoin year-to-date yield of 12.6%.

The current plan to repurchase a part of the 2029 convertible notes additionally matches into this bigger technique. Strategy recently revealed that it agreed to repurchase a $1.50 billion principal quantity of its 0% convertible senior notes due 2029 for an estimated money worth of about $1.38 billion. The repurchased notes could be cancelled, leaving about $1.50 billion of the 2029 notes excellent.

This issues as a result of convertible notes can become future shares. Strategy reduces the chance that these notes will ultimately enhance the variety of shares by repurchasing and canceling a portion of that tranche. That might help shield Bitcoin per share, which is central to the corporate’s long-term treasury. Strategy’s most recent BTC purchase was introduced lower than 24 hours in the past, with the corporate including 24,869 BTC for a complete value of $2.014 billion.