diff --git a/Makefile.am b/Makefile.am
index 123a22525c..a64666a32b 100644
--- a/Makefile.am
+++ b/Makefile.am
@@ -46,7 +46,7 @@ distcheck-hook:
 distcleancheck:
 	@:
 
-$(BITCOIN_WIN_INSTALLER): $(BITCOIND_BIN) $(BITCOIN_QT_BIN) $(BITCOIN_CLI_BIN)
+$(BITCOIN_WIN_INSTALLER): all-recursive
 	$(MKDIR_P) $(top_builddir)/release
 	STRIPPROG="$(STRIP)" $(INSTALL_STRIP_PROGRAM) $(BITCOIND_BIN) $(top_builddir)/release
 	STRIPPROG="$(STRIP)" $(INSTALL_STRIP_PROGRAM) $(BITCOIN_QT_BIN) $(top_builddir)/release