Key Highlights
- Strategy completed its 100th Bitcoin purchase, acquiring 592 BTC and bringing its total holdings to 717,722 BTC, worth almost $54.6 billion.
- The company now controls roughly 3.4% of Bitcoin’s total supply but is sitting on about $7.1 billion in unrealized losses.
- Despite this, Saylor remains bullish, maintaining his long-term $1 million Bitcoin price prediction and calling the current market downturn a “milder” crypto winter.
Michael Saylor’s Strategy (formerly MicroStrategy) officially completed its 100th distinct Bitcoin (BTC) acquisition. According to an 8-K filing with the Securities and Exchange Commission on Monday, February 23, 2026, the firm purchased 592 BTC at an average price of $67,286 per coin.
This latest buy, teased by Saylor on social media as “The Orange Century,” marks a symbolic and financial turning point for the firm. Strategy now holds a total of 717,722 BTC, representing a total investment of roughly $54.6 billion, including fees and expenses.
To fund these latest purchases, Strategy sold 297,940 Class A common shares (MSTR), raising approximately $39.7 million. This “money-printing” machine for Bitcoin shows no signs of slowing down; the firm revealed that $7.8 billion worth of MSTR shares remain available for future sales under its current issuance program.
At a time when the firm sits on $7.1 billion in unrealized losses. With an average purchase price of $76,020 per BTC, Strategy is currently “underwater” based on the current market price of roughly $66,100.
The global supply squeeze
Strategy’s holdings now equate to 3.4% of the total 21 million Bitcoin supply. This level of concentration is historically significant; rarely has a single publicly traded entity controlled such a large percentage of a global commodity.
Just last week, the firm purchased 2,486 BTC for $168 million. By buying consistently through the “winter,” Saylor is betting that the “spring” will bring a supply shock that justifies his $1 million price target.
Spring is coming: The $1 million prophecy
Saylor’s rhetoric has reached new heights of maximalism. On X, he told his followers, “If it’s not going to zero, it’s going to a million.” This binary view of Bitcoin’s future is the cornerstone of Strategy’s corporate governance.
However, in an interview with Fox Business, Saylor dismissed the current volatility. “We are in a crypto winter,” Saylor admitted, but quickly added that it is “a much milder winter” compared to the catastrophic deleveraging of 2022. He argued that the “shorter winter” is a result of a stronger banking sector and a more mature institutional infrastructure that did not exist four years ago.
Analysts note that Strategy is no longer just a “HODLer”; it is an active participant in the financial system’s transition to a Bitcoin standard. Saylor highlighted that capital inflows remain steady and technological progress—specifically in Layer-2 solutions and institutional custody—is accelerating.
If Saylor can successfully navigate a $7 billion paper loss without a margin call or a collapse in MSTR’s stock price, he proves the viability of the Bitcoin Treasury Model.
As Strategy moves past its 100th purchase, the “Orange Century” stands as a testament to the boldest corporate experiment in financial history. If Saylor’s spring arrives as predicted, Strategy could become the most valuable firm in the digital asset era.
Also Read: Michael Saylor Commits to Buying Bitcoin Every Quarter Indefinitely
