Michael Saylor, co-founder of Bitcoin (BTC) treasury company Strategy, indicated on Sunday that the company is buying more BTC as the price hovers around the $66,000 level.
“The second century begins,” Saylor said on X, while sharing the BTC strategy accumulation chart that has become synonymous with impending BTC purchases.
Strategy’s most recent BTC purchase came during the last week of February, when the company purchased 3,015 BTC for over $204 million, bringing its total holdings to 720,737 BTC, valued at approximately $48.1 billion based on market prices at the time of publication.
Bitcoin price is currently below Strategy’s average purchase cost of approximately $75,985 per BTC, according to data from SaylorTracker.
The company continues to accumulate BTC through debt and equity financing, even amid a broad market slowdown and a collapse in net asset values (NAVs) of Treasury companies.
The strategy’s base NAV is just below 1, according to the company, meaning it is trading at a discount to its BTC treasury.
Related: Strategy increases STRC monthly preferred dividend to 11.5% by March 2026
2026 may be the year of consolidation for crypto treasury companies, but Saylor isn’t buying
The digital asset treasury market could consolidate in 2026, as companies with operating businesses that generate cash flow will buy treasury companies that simply accumulate BTC, according to Wojciech Kaszycki, chief strategy officer at treasury company BTCS.
“If you consolidate with another player, sometimes two plus two equals six or more, you can win faster, because everyone in this market who is trading below NAV is struggling,” he told Cointelegraph.
Crypto treasury companies can provide validation services for blockchain networks, mine cryptocurrencies, offer public or private credit instruments or start any non-digital asset related business to generate income, he added.
Saylor has ruled out the idea of buying competitors or struggling BTC treasury companies, citing financial uncertainty as the main reason for avoiding mergers and acquisitions.
“These things tend to last six to nine months or a year,” he said. “An idea that seems good at the beginning may not be good six months later,” he added.
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