Strategy and IBIT Now Hold 1.65 Million Bitcoin (BTC), About 8% of the Supply Cap

Two Holdings Near 8% of the 21 Million Cap

Roughly 8% of all Bitcoin (BTC) that will ever exist now sits on just two balance sheets. Strategy, the listed digital asset treasury company, and BlackRock's iShares Bitcoin Trust ETF (IBIT) together hold 1,653,222.42 coins, about 7.87% of the network's fixed 21 million supply cap, a limit that the April 2028 halving will tighten further without changing. At the $85,179 Bitcoin price recorded on Monday, October 5, that combined position is worth about $140.82 billion: Strategy's 848,000 BTC carry a market value near $72.23 billion, while IBIT's 805,222.42 BTC are worth roughly $68.59 billion, per the trust's public holdings page. Strategy's latest purchase lifted its treasury to a company record: 334 Bitcoin (BTC) added at an average $85,838.80 including fees, a $28.7 million outlay that moved holdings from 847,666 to exactly 848,000 coins. Only 42,777.58 BTC now separate a single corporate treasury from the largest spot ETF trust, leaving Strategy's position about 5.3% larger than IBIT's in pure coin terms. The two stacks sit near parity, but the resemblance stops at the coin count: Strategy's coins sit on a corporate balance sheet, while IBIT's back shares in a Delaware statutory trust, and that difference decides what happens when either pile moves. For the wider Bitcoin market, two of the largest known holders keep absorbing a share of a supply that no new issuance can expand.

A Treasury and a Trust

IBIT is a Delaware statutory trust: shareholders hold beneficial interests in its net assets, the Bitcoin belongs to the trust rather than to BlackRock as a corporate asset, and Coinbase Custody Trust Company is the primary custodian, with Anchorage Digital Bank added as a second custodian in April 2025, BNY Mellon handling cash custody and Coinbase Prime serving as the main execution agent. BlackRock has said Coinbase keeps the coins, with no plan to shift them to Anchorage. Strategy (MSTR) runs the opposite playbook, a treasury operation acting as a de facto strategic bitcoin reserve with the board holding final say over its 848,000 coins, spread across Coinbase Custody, Anchorage Digital and Fidelity Digital Assets. A July 24 snapshot showed 843,775 Bitcoin (BTC) divided roughly into 350,471, 325,689 and 167,615 across those venues, though the company has since moved coins between custodians and sold some this year. IBIT's number moves through narrower plumbing: shares are created and redeemed in baskets of 40,000, a channel reserved for authorized participants such as Goldman Sachs, JPMorgan Securities, Citi Global Markets, Jane Street Capital, BofA Securities, UBS and Virtu Americas, and since the SEC approved in-kind creation and redemption for crypto exchange-traded products on July 29, 2025, four firms (Jane Street, Virtu, JPMorgan Securities and Marex Capital Markets) can move actual Bitcoin in or out. An in-kind redemption removes coins from IBIT with no market sale at all, so outflows are not automatically selling pressure. Strategy reports a cumulative acquisition bill near $63.97 billion at an average $75,440.70 per coin, about $8.26 billion above water at Monday's price after a stretch earlier this year when the position sat below cost, while IBIT's stake is not a record: the trust topped 806,000 BTC in April and reported 805,466.71 BTC on October 13, 2025, and a 0.25% annual sponsor fee payable partly in Bitcoin slowly trims each share's entitlement. These are institutional flows, not whale wallets dumping inventory.

Composite Engine Puts $87,331 Resistance in Play

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $87,331 resistance at 91/100, the strongest level on its map, driven by the Swing High, R1 and Donchian Upper confluence, with support at $83,979 scored 81/100 on ATR Lower, SMA 20 and EMA 20 sources. Spot prints $85,760, up 0.4% over 24 hours, with RSI at 63.58, a bearish MACD signal inside an intact uptrend. Positioning is mildly long: perp funding runs at 0.0009%, open interest sits at $16.36 billion, the long/short account ratio reads 1.23, and the Fear and Greed Index is at 70, in Greed territory. A daily close above $87,331 opens the moderate $89,024 level; losing $83,979 would invalidate that setup and expose $82,563, scored 79/100. With 7.87% of the 21 million cap parked on these two balance sheets, the tradable float keeps shrinking. Our Bitcoin technical analysis tracks every level live.