JPMorgan analysts have projected that Strategy, the corporate Bitcoin treasury firm, could acquire approximately $30 billion worth of Bitcoin in 2026 if it maintains its current pace of accumulation. The forecast, published by a team led by Nikolaos Panigirtzoglou, highlights a significant acceleration in the company’s already aggressive buying strategy, particularly noted in April.
According to the report, Strategy has purchased 145,834 BTC since the start of the year, worth roughly $11 billion at current prices. These acquisitions were largely executed when Bitcoin traded below the company’s estimated average cost level of $75,000. If the annualized pace holds, the full-year total would far surpass the roughly $22 billion in Bitcoin purchased in both 2024 and 2025.
JPMorgan noted that Strategy’s buying is “opportunity-driven” and sensitive to market conditions and financing opportunities. The company’s strong share premium—currently around 26% relative to net asset value—has allowed it to easily raise capital through new equity and debt issuances to fund further Bitcoin acquisitions. This institutional conviction, led by Chairman Michael Saylor, continues to position Strategy as one of the largest single-entity Bitcoin accumulators in history.
