Strategy’s 12th Straight Bitcoin Buy Signaled by Saylor
Michael Saylor, co-founder of the prominent Bitcoin treasury firm Strategy, has announced that the company is continuing its aggressive Bitcoin acquisition strategy even as cryptocurrency markets experience significant turbulence. This latest move represents the 12th consecutive week of Bitcoin purchases by the firm, demonstrating unwavering commitment to its BTC accumulation approach.
On Sunday, Saylor shared the company’s well-known Bitcoin accumulation chart on the social media platform X. This chart has become a hallmark of Strategy’s buying activities, clearly indicating that the firm is gearing up for its 99th Bitcoin transaction. The visual representation not only tracks the company’s progress but also serves as a powerful signal to investors and the broader crypto community about Strategy’s ongoing dedication to building its Bitcoin reserves.
The firm’s previous Bitcoin acquisition took place on February 9, when Strategy purchased 1,142 BTC at a cost exceeding $90 million. This transaction increased the company’s total Bitcoin holdings to 714,644 BTC, which were valued at approximately $49.3 billion based on prevailing market prices at the time of reporting. Such substantial investments underscore Strategy’s long-term conviction in Bitcoin’s potential as a superior store of value, particularly during periods of market volatility.
The cryptocurrency markets, including Bitcoin, have faced considerable downward pressure following a dramatic flash crash in October. This event triggered a more than 50% decline in Bitcoin’s price from its previous all-time high above $125,000, pushing it below Strategy’s average acquisition cost of $76,000 per BTC. Despite these challenging conditions, the company has maintained its accumulation strategy without interruption.
Market analysts had speculated that Strategy might reduce or halt its Bitcoin purchases during such a downturn, or even consider liquidating portions of its holdings. However, the firm has steadfastly ignored these predictions, continuing to build its position counter to prevailing market sentiment. This resolute approach highlights Strategy’s differentiated investment philosophy, which prioritizes long-term Bitcoin appreciation over short-term price fluctuations.
Persistent Accumulation Amid Sector Challenges
Prior to the October flash crash, the broader crypto treasury sector was already exhibiting signs of strain. Numerous companies in this space experienced sharp declines in their stock valuations, accompanied by a notable deterioration in their multiple on net asset value, commonly referred to as mNAV. This key performance indicator measures the premium (or discount) at which a company’s stock trades relative to the underlying value of its cryptocurrency assets.
By September 2025, several leading crypto treasury firms saw their mNAV ratios drop below 1, according to analysis from Standard Chartered Bank. When a company’s mNAV exceeds 1, it typically enjoys favorable conditions for raising capital through stock issuance or debt financing, enabling further cryptocurrency purchases. In contrast, an mNAV below 1 indicates that investors are valuing the company at less than the worth of its Bitcoin and other digital asset holdings, which can complicate access to additional funding and raise concerns about financial health.
Strategy itself has not been immune to these pressures. Earlier this month, the company disclosed a substantial Q4 loss amounting to $12.4 billion, which contributed to an approximately 17% drop in its stock price. Although shares have shown some recovery in recent trading sessions, closing at $133.88 on Friday, the company’s mNAV currently stands at 0.90, reflecting the ongoing market skepticism toward crypto treasury strategies.
Despite these headwinds, Strategy’s leadership remains focused on expanding its Bitcoin treasury. The company’s CEO has expressed interest in issuing additional preferred stock specifically to finance more BTC acquisitions, signaling confidence in this approach even as traditional financial metrics face scrutiny. This persistence differentiates Strategy from peers who have scaled back ambitions during the downturn.
Saylor’s regular updates via social media serve multiple purposes: they inform stakeholders about purchase milestones, reinforce the company’s Bitcoin-maximalist ethos, and potentially influence market sentiment by demonstrating conviction at critical moments. As the crypto treasury sector navigates this period of uncertainty, Strategy’s unbroken 12-week buying streak positions it as a bellwether for institutional Bitcoin adoption.
The broader implications of Strategy’s strategy extend beyond its own balance sheet. By continuing to accumulate during market corrections, the firm provides a model for corporate Bitcoin adoption that emphasizes patience and scale. Investors watching closely may interpret these actions as a vote of confidence in Bitcoin’s eventual recovery and long-term dominance as an asset class, potentially encouraging similar moves from other institutions.
As Bitcoin prices stabilize following the recent volatility, all eyes remain on Strategy’s next moves. Whether through equity offerings, debt instruments, or operational cash flows, the company’s ability to sustain this accumulation pace will be a key test of its treasury model. For now, Saylor’s signal of the 12th consecutive weekly buy reaffirms Strategy’s role as one of the most aggressive and consistent corporate holders of Bitcoin in the global market.
