New York, April 27, 2026, 09:02 EDT
- Strategy picked up another 3,273 bitcoin, lifting its total stash to 818,334 BTC.
- Mike Novogratz, CEO of Galaxy Digital, flagged Saylor’s purchases as a potential squeeze on available supply.
- Bitcoin hovered around $77,660, following nine straight days of inflows into U.S. spot bitcoin ETFs.
Strategy Inc. picked up an additional $255 million in bitcoin last week—a smaller haul than some prior buys, but enough to keep Michael Saylor’s firm out in front of BlackRock’s iShares Bitcoin Trust. The move also intensified the ongoing debate about whether big players are soaking up too much of the available supply. Bitcoin hovered near $77,660, a touch lower on the day, still flirting with that $80,000 mark traders have circled.
This purchase stands out, coming just days after Galaxy Digital CEO Mike Novogratz warned that Saylor’s pace was fast enough to pressure the supply side. Novogratz, speaking on the All Things Markets podcast, put Strategy’s buying at “multiple billions per week,” according to Stocktwits, and said, “there is not enough supply” if that level of demand keeps up. In simple terms, a supply shock hits when buyers soak up more coins than sellers and issuers can add back. Stocktwits
Strategy disclosed in a filing that it snapped up 3,273 bitcoin from April 20 to April 26, paying an average of $77,906 each. The purchase was funded with proceeds from selling 1.45 million shares of its Class A common stock through its at-the-market program, bringing in $255 million net. The company did not sell any preferred shares during this stretch.
The move came after a far bigger buy just the week before. Between April 13 and April 19, Strategy snapped up 34,164 bitcoin for roughly $2.54 billion—all in at an average price of $74,395. That deal brought the holding up to 815,061 bitcoin at the time. With the latest acquisition, the total climbed higher yet.
BlackRock is fast becoming the main rival. According to Bitbo, BlackRock’s iShares Bitcoin Trust held 812,276.2 bitcoin as of April 27—putting it trailing Strategy by roughly 5,100 coins after Monday’s filing. IBIT, the ticker for BlackRock’s ETF, aims to mirror bitcoin’s price by offering exposure through a listed security instead of holding the asset itself.
ETF demand has been supporting bitcoin prices. According to Farside Investors, U.S. spot bitcoin ETFs pulled in positive net inflows every day from April 14 to April 24. BlackRock’s IBIT took in $246.9 million on April 22, another $167.5 million the next day, and $22.9 million on April 24. Totals for all funds landed at $335.8 million, $223.3 million, and $14.4 million for those respective days.
It’s a straightforward structure, but hardly risk-free. With April 2024’s Bitcoin halving, miners now receive just 3.125 BTC per block—slowing the creation of new coins. That’s put extra focus on big ETF and treasury buys, especially as prices push up against technical resistance.
So far, analysts haven’t been quick to call it a true breakout. “Measured recovery rather than outright euphoria,” is how Riya Sehgal, research analyst at Delta Exchange, put it. Bitcoin’s been consolidating near $78,000, she noted, while ether still trails. The Economic Times
Support looks to be in the $77,300 to $78,000 range, according to Vikram Subburaj, CEO of Giottus. He pegged the first resistance zone between $79,400 and $80,000, adding that only a clear break above $80,000 would signal the rally is “more than a relief rally.” The Economic Times
All eyes turn to the Federal Reserve for the next major macro signal. Akshat Siddhant, lead quant analyst at Mudrex, pointed out that a dovish Fed tone post-policy meeting could nudge bitcoin beyond the $80,000 psychological barrier. Fresh inflows, he noted, underline growing institutional confidence—bitcoin’s latest run has drawn renewed attention.
The supply-shock thesis isn’t a one-way street. Strategy’s most recent buy came in at about a tenth of last week’s $2.54 billion splash, this time financed by common-share offerings—meaning existing shareholders see dilution. Should ETF inflows pull back, the Fed let down risk markets, or bitcoin stumble again under $80,000, that same demand concentration propping up the rally could flip: what looked like a squeeze starts to resemble a crowded trade.
