JPMorgan: Bitcoin purchases this year may reach $30 billion

Michael Saylor's Strategy (formerly MicroStrategy) has continued to accelerate its Bitcoin purchases this year. JPMorgan analysts indicate that if the current pace continues, its annual Bitcoin purchase scale could reach approximately $30 billion. So far this year, Strategy has increased its holdings by 145,834 Bitcoins, valued at about $11 billion.

Analysis points out that Strategy's large purchases occurred during a period when Bitcoin was below its average cost of about $75,000, reflecting a more "opportunistic" allocation strategy. Based on the current pace, Strategy's total Bitcoin purchases in 2026 could significantly exceed the approximately $22 billion levels of 2024 and 2025. Analysts state that the company has resumed accelerating its purchases since April, indicating that its strategy is increasingly reliant on market conditions and financing availability.

At the same time, Strategy's stock continues to trade at about a 26% premium to its net asset value (NAV), providing favorable conditions for its ongoing Bitcoin purchases through equity and debt financing. The company currently holds approximately 818,334 BTC, with a total value exceeding $65 billion.