A widely shared report claims Michael Saylor’s Strategy has bought roughly seven times more Bitcoin than BlackRock’s iShares Bitcoin Trust (IBIT) this year. The comparison has fueled debate across crypto markets, but the exact ratio remains unverified by first-party filings from both sides.
What the report claims and what the filings show
The 7x figure, circulated on Telegram and picked up by several crypto outlets, compares Strategy’s year-to-date Bitcoin purchases against IBIT’s net accumulation in early 2025. According to unconfirmed reports, the comparison is based on tracker-derived estimates rather than a named primary source.
What is verified: Strategy disclosed that it held 447,470 BTC as of December 31, 2024. The company then reported on February 10, 2025 that it had acquired 7,633 BTC between February 3 and February 9, bringing its total to 478,740 BTC.
447,470 BTC
Verified company-disclosed holdings as of Dec. 31, 2024.
That implies Strategy added approximately 31,270 BTC in the first 40 days of 2025. By June 30, 2025, Strategy’s holdings had grown further to 597,325 BTC, representing nearly 150,000 BTC accumulated across the first half of the year.
How BlackRock’s IBIT pace compares
On the other side of the comparison, BlackRock’s IBIT held 551,918 BTC as of December 31, 2024, and 696,875 BTC as of June 30, 2025, according to the fund’s SEC quarterly filing. That represents approximately 144,957 BTC in net accumulation over the same six-month period.
Those half-year totals, roughly 150,000 BTC for Strategy and 145,000 BTC for IBIT, are broadly similar rather than sevenfold apart. The 7x ratio may have applied to a narrower early-2025 window when Strategy was buying aggressively and IBIT experienced mixed flows, including a $177.6 million outflow day on February 3 followed by a $249.0 million inflow the next day.
The distinction matters: Strategy buys Bitcoin directly as a corporate treasury asset, while IBIT’s holdings fluctuate based on ETF share creation and redemption by authorized participants. Comparing the two requires matching exact date ranges, which neither the original report nor available filings fully support for the claimed ratio.
Why the comparison draws market attention
Saylor remains one of the most watched corporate Bitcoin buyers. Strategy’s accumulation pace in early 2025 was unusually fast, and headlines framing it as multiples above institutional ETF demand naturally attract attention from traders tracking crypto volume trends and sentiment signals.
BlackRock’s IBIT, meanwhile, serves as a proxy for traditional institutional Bitcoin demand. Any perceived gap between corporate conviction buying and ETF-driven flows feeds into broader narratives about who is actually accumulating and at what pace.
With Bitcoin trading near $66,875 and the Fear and Greed Index at 11, indicating extreme fear, the scale of both Strategy’s and BlackRock’s continued accumulation stands out against broader market caution.
The verified filings show both entities added substantial Bitcoin in the first half of 2025. Whether Strategy’s pace was truly seven times BlackRock’s depends on the specific date window and data source used, neither of which the original report clearly identified.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
