Strategy CEO Phong Le told Fox Business's Liz Claman that the company has bought roughly 175,000 Bitcoin so far in 2026, cementing its position as the world's largest institutional holder of the asset, and described Strategy's role in blunt terms: \u201cWe are the JPMorgan of the digital economy.\u201d
We've added over 35 times the number of Bitcoin that we've sold. What Strategy is designed to do is to outperform Bitcoin in a bull cycle, which I expect to happen in the next year.
According to Strategy's own SEC filing, the company held 843,775 bitcoin as of July 12, 2026, acquired at an aggregate purchase price of $63.69 billion, an average of $75,476 per coin. That balance reflects roughly 25% growth in Strategy's Bitcoin holdings since the start of the year, funded in part by $17.06 billion raised through the company's at-the-market equity programs in 2026 alone.
Buying Through a Bitcoin Price Decline
Strategy's accumulation has continued even as Bitcoin's price has pulled back from earlier highs this year. In the second quarter alone, the company grew its holdings 11% to roughly 846,000 bitcoin while simultaneously cutting its convertible debt load 18% to $6.7 billion, a combination that points to a deliberate effort to keep buying while de-risking the balance sheet's debt structure at the same time. The company has also built a $3.75 billion USD reserve, giving it a liquidity cushion independent of its Bitcoin holdings.
Related: Trump Media's Bitcoin Stash Tops $900M Despite Wider Q2 Loss
The 'JPMorgan' Framing
Le's comparison to JPMorgan is a claim about scale and centrality, not business model; Strategy doesn't operate as a bank. But the framing captures how far the company has moved from its original enterprise-software business toward functioning as a leveraged, publicly traded proxy for Bitcoin exposure, one large enough that its buying and selling activity now registers as its own market signal.
Le's forecast of a bull cycle \u201cin the next year\u201d is his own prediction rather than company guidance, and Strategy's model of outperforming Bitcoin through leverage cuts both ways: the same mechanism that amplifies gains in a rally also amplifies losses in a downturn, a risk the company has openly acknowledged as part of its investment case.
