JPMorgan Says Strategy Could Buy $30B Bitcoin This Year

JPMorgan's $30 Billion Forecast

JPMorgan analysts said Strategy could accelerate its Bitcoin purchases to $30 billion in 2026, according to a note released Thursday. That pace would exceed the roughly $22 billion the company acquired across 2024 and 2025 combined. Strategy currently holds more than 818,000 Bitcoin and has already purchased over 145,000 BTC in the first five months of 2026, valued at approximately $11 billion, per BitcoinTreasuries.net.

The bank attributed the accelerating purchase pattern to what it described as an increasingly opportunistic buying strategy. JPMorgan noted that Strategy "appears to have re-accelerated its bitcoin purchases" beginning in April, suggesting the company is timing its acquisitions around market conditions rather than deploying capital on a fixed schedule.

Analyst Price Target Raised

TD Cowen raised its price target for Strategy's stock, MSTR, to $395 on Thursday, up from $385. The upgrade reflects analyst confidence in the company's ability to execute on its expanded Bitcoin acquisition plan. The timing of TD Cowen's move aligns with JPMorgan's forward-looking assessment of Strategy's capital deployment capacity.

Why It Matters

For Traders

MSTR volatility may increase if Strategy executes the $30B plan; larger than expected purchases could pressure spot Bitcoin price or shift it depending on market microstructure.

For Investors

Strategy's aggressive treasury growth could make it a leveraged proxy to Bitcoin appreciation, but execution risk remains if market conditions tighten or capital access narrows.

For Builders

Large institutional Bitcoin accumulation by a publicly traded entity may signal institutional maturity expectations, informing how protocols design for institutional settlement and custody workflows.