JPMorgan analysts have stated that Strategy, led by Michael Saylor, could make Bitcoin purchases totaling approximately $30 billion by 2026 if the current pace continues. The analysts noted that the company particularly accelerated its purchases in April.
According to a report published by JPMorgan’s analyst team led by Nikolaos Panigirtzoglou, Strategy has purchased a total of 145,834 BTC since the beginning of the year. These purchases, worth approximately $11 billion at current prices, were largely made when the Bitcoin price was trading below the company’s estimated average cost level of $75,000.
Analysts say that if the current annualized pace continues, the company could purchase approximately $30 billion worth of Bitcoin throughout 2026. This figure significantly exceeds the approximately $22 billion in Bitcoin purchases the company made in both 2024 and 2025.
The report stated, “Strategy appears to have accelerated its Bitcoin purchases again in April. The company is pursuing an opportunity-driven buying strategy throughout 2026, sensitive to market conditions and funding opportunities.”
Investor demand for Strategy shares also remains strong. The company’s premium relative to its net asset value (NAV) has risen to approximately 26% in the last two months. JPMorgan analysts stated that this high premium helps the company secure financing more easily, thus enabling it to generate resources for additional Bitcoin purchases through new share and debt issuances.
*This is not investment advice.