Strategy (MSTR) Stock Holds Firm as Saylor Signals Historic 100th BTC Purchase

TLDR

• Saylor’s “The Orange Century” X post signals Strategy’s 100th Bitcoin purchase is imminent.
• Strategy holds 717,131 BTC across 99 purchases at an average cost of $76,027 per coin.
• Bitcoin is trading around $64,700, putting Strategy’s holdings at a 13.62% unrealized loss.
• MSTR stock is down 61% over six months but up ~950% since the first BTC purchase in 2020.
• Strategy has bought Bitcoin for 12 straight weeks using convertible debt and equity offerings.

Michael Saylor posted two words on X over the weekend that got the crypto world talking: “The Orange Century.”

The post included a screenshot from StrategyTracker — a move Saylor has made repeatedly before announcing a new Bitcoin purchase. Strategy has completed 99 buys to date, meaning the next one would be its 100th.

Strategy Inc, MSTR

The firm currently holds 717,131 BTC at an average purchase price of $76,027 per coin.

Holdings Now in the Red

Bitcoin is trading around $64,700 at the time of writing — below Strategy’s average cost basis. That puts the company’s entire Bitcoin position at an unrealized loss of roughly 13.62%.

Total holdings are valued at just over $47 billion at current prices.

Bitcoin is also down nearly 48% from its all-time high of $126,080, making the current environment one of the more challenging stretches since Strategy began buying in August 2020.

Despite that, Strategy has purchased Bitcoin for 12 consecutive weeks, funded through a mix of convertible debt and equity offerings. A buy this week would push that streak to 13.

MSTR Stock Feels the Pressure

MSTR is down over 61% in the past six months, a direct reflection of Bitcoin’s price decline.

The stock has still gained roughly 950% since Strategy made its first BTC purchase in August 2020, when it traded at around $12.44. It now sits at approximately $131.05.

Saylor has acknowledged the pressure but has consistently pushed back against concerns about the firm’s leverage. He has stated that Strategy could survive a Bitcoin drawdown to as low as $8,000 per coin without putting its balance sheet at risk.

The Road to 100

Strategy’s first Bitcoin purchase was a $250 million buy in August 2020 — a move Saylor made after shifting from Bitcoin skeptic to full-throated advocate.

The firm built its treasury model around using BTC as a long-term inflation hedge and store of value, financing ongoing purchases through capital markets.

That approach has turned Strategy into the largest public holder of Bitcoin in the world and sparked a wave of copycat corporate treasury strategies.

When the 100th purchase lands, Strategy’s total Bitcoin holdings will have been built across nearly six years of consistent buying, through bull runs, crashes, and everything in between.

Saylor’s latest post suggests that milestone is just around the corner.

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