MicroStrategy Inc. (MSTR) now has 815,061 Bitcoin (BTC) and has surpassed BlackRock's iShares Bitcoin Trust (IBIT). MicroStrategy is the largest individual Bitcoin holder.

The company bought 34,164 BTC for about $2.54 billion between April 14 and April 20. IBIT currently holds approximately 806,178 BTC.

MicroStrategy now holds 815,061 BTC and is stacking.

Alex Thorn, Research Chief at Galaxy Digital, highlighted this development during the week. He showed a candlestick chart where MicroStrategy's holdings are nearing Satoshi Nakamoto's estimated 1,096,000 BTC.

"MicroStrategy (MSTR), a single entity, now holds more BTC than IBIT, the world's largest Bitcoin fund. MicroStrategy is likely to overtake Satoshi within two years," he wrote in a post.

According to Galaxy's models, MicroStrategy could surpass Satoshi as early as November 2026 if the pace continues. The company finances purchases through stock sales on the exchange, including its STRC preference shares that yield an annual return of 11.5%.

Meanwhile, chairman Michael Saylor tweeted, "The winter is over" on X the same day. He shared the message along with an AI-generated image symbolizing renewal, suggesting that the market may be ready for a bull run.

But gold advocate Peter Schiff criticized and labeled STRC's structure as a Ponzi scheme.

The main difference between a typical Ponzi scheme and STRC is that in the former, you don't know it's a Ponzi or that your payouts will stop when new buyers run out," wrote Schiff.

Schiff argued that STRC dividends require constant capital injections and do not come from the company's revenue.

MicroStrategy outlines these risks in its reports to the SEC. Saylor states that BTC only needs to increase by 2.05% per year to cover dividends on preference shares indefinitely.