Strategy, the Bitcoin treasury company led by Michael Saylor, has signaled another potential Bitcoin purchase as the cryptocurrency trades near the $66,000 level. Saylor posted a message stating “The Second Century Begins” while sharing the firm’s well-known Bitcoin accumulation chart, a signal that has often preceded new BTC acquisitions.
The company’s most recent purchase took place in the final week of February, when Strategy acquired 3,015 BTC for more than $204 million. That transaction increased the firm’s total holdings to 720,737 BTC, with a treasury value of roughly $48.1 billion based on market prices at the time.
Bitcoin Price Below Average Purchase Cost
Despite the massive holdings, the current price of Bitcoin remains below Strategy’s average acquisition cost of about $75,985 per BTC, according to data from SaylorTracker. The firm has maintained its accumulation approach through a mix of debt and equity financing, even as market conditions have weakened.
Strategy’s net asset value (NAV) has also declined alongside the broader market. With a basic NAV just under 1, the company is currently trading at a discount relative to the value of its Bitcoin treasury, which exceeds $48.4 billion.
Consolidation Debate in Crypto Treasury Market
Some analysts believe 2026 could bring consolidation among crypto treasury companies, as firms with operational cash flow potentially acquire entities focused solely on Bitcoin accumulation. However, Saylor has rejected the idea of mergers and acquisitions, arguing that lengthy deal timelines and market volatility make such strategies uncertain.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.