Strategy Inc. Surpasses $17B Raised in 2026, Becomes Largest Institutional Bitcoin Holder

Strategy Inc., a Bitcoin Treasury Company, has become the world's largest institutional holder of bitcoin, holding 843,775 bitcoins as of July 26, 2026. This represents a significant growth of 25% year-to-date in 2026 and makes Strategy Inc. the largest institutional holder globally.

The company reported an operating loss of $8.33 billion in Q2 2026, primarily due to an $8.32 billion unrealized loss on bitcoin holdings, reflecting the recent decline in bitcoin price. However, despite this loss, the company raised $17.06 billion through ATM programs year-to-date and has a robust USD reserve of $3.75 billion, providing coverage for more than 2.1 years of forecasted preferred dividends and interest expenses.

Strategy Inc.'s aggressive capital raising and debt management efforts have led to a reduction in convertible debt by 18% to $6.7 billion through significant repurchases at an 8% discount to par. The company has also established a BTC Monetization Program, generating $218.4 million in bitcoin sales so far in 2026 to fund preferred stock dividends.