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Strategy (previously known as MicroStrategy) Chairman Michael Saylor has suggested on X that the company is ready to carry out its 100th Bitcoin acquisition, representing a significant milestone nearly six years after the firm initiated its aggressive treasury reserve strategy.
The Orange Century. pic.twitter.com/8zelTduTPC
— Michael Saylor (@saylor) February 22, 2026
This forthcoming acquisition follows a continuous buying trend, with the firm steadily accumulating assets throughout the downturn, despite trading conditions that have left its substantial position $12.4 billion in the red.
Key Takeaways
- Strategy currently possesses 717,131 BTC, acquired at an average price of $76,027 per coin, resulting in a total investment basis exceeding $54 billion.
- Michael Saylor hinted at the milestone with a “StrategyTracker” chart labeled “The Orange Century,” suggesting that the firm’s 100th distinct purchase is on the horizon.
- The accumulation persists despite unrealized losses, with Bitcoin trading around $64,700 compared to the firm’s break-even price.
Strategy has built its holdings through 99 individual transactions since August 2020.
While spot Bitcoin ETFs have recorded their fifth consecutive week of outflows, indicating a decline in institutional demand, Saylor’s firm continues to aggressively acquire supply.
The company’s determination underscores a contrast between short-term institutional flows and steadfast long-term strategies by corporate treasuries.
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The Orange Century: The Accumulation Stats of Michael Saylor
In his most recent X post on Saturday, Saylor shared a chart from the firm’s “StrategyTracker” with the title “The Orange Century.”
For those who have closely monitored Michael Saylor over the past few years, an official Form 8-K filing announcing a completed acquisition may be imminent.
According to company records, the firm has consistently purchased Bitcoin throughout the 2020s, including a transaction every month since November 2024. A purchase this week would signify the 100th total buy event since the strategy commenced.
If it’s not going to zero, it’s going to a million. $BTC
— Michael Saylor (@saylor) February 20, 2026
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The firm currently holds 717,131 BTC, which represents approximately 3.4% of the total 21 million supply cap, valued at around $47.5 billion. However, the aggressive buying at market peaks has elevated the average cost per coin to $76,027.
With Bitcoin trading below $67,000 as traders seek crash protection, the treasury faces considerable unrealized losses.
Despite this price movement, the company remains dedicated to its dollar-cost averaging strategy, utilizing capital markets to support ongoing accumulation.
Dilution Concerns and Strategic Pivots
To maintain this buying momentum, Strategy has adapted its financing strategy. Fortune reports that the firm has transitioned to issuing preferred stock to raise capital, a decision analysts caution could transform the company into a “dilution machine” concerning Bitcoin per share (BPS) metrics.
The company issued $7 billion in preferred stock in 2025 alone, which carries substantial dividend obligations.
Source: TradingView
While Bitcoin hashrate exhibits a V-shaped recovery indicating network health, Strategy’s balance sheet is under examination as it manages $6 billion in debt maturities due in 2028.
The firm intends to “equitize” this convertible debt in the coming years, potentially increasing share counts further to safeguard the Bitcoin holdings.
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Corporate Treasury Implications
Strategy’s influence has prompted other organizations to hedge with cryptocurrency, as seen in smaller scale implementations like the Consensys and Sharplink ETH treasury holdings.
However, no other public entity matches Strategy’s scale.
As the firm nears its 100th purchase, the market is closely observing whether Saylor can uphold shareholder value while managing substantial debt in a sub-$70,000 Bitcoin environment.
The post Michael Saylor Hints at Strategy’s 100th Bitcoin Purchase Milestone appeared first on Cryptonews.
