JPMorgan’s reported $30 billion Strategy call has placed Bitcoin’s market structure under fresh review. The note suggests Michael Saylor’s company could remain a major BTC buyer in 2026. Yet the same buying model creates a clear market fault line. JPMorgan’s May 7 client note estimated Strategy “could buy roughly $30 billion in Bitcoin in 2026.” That pace would turn the company into a steady source of BTC demand. The estimate depends on Strategy keeping its stock and preferred share sales open. Strategy held 818,869 BTC, bought for $61.86 billion at an average cost of $75,540. Bitcoin traded near $79,373 in the ... (full story)