Saylor’s Signal Was Real: Strategy Executes $108 Million Bitcoin Purchase
The signal was true. Just one day after Michael Saylor’s cryptic “Back to Orange” post, his company, Strategy, has followed through with action. A new SEC filing reveals the firm acquired 1,229 Bitcoin for $108.8 million, proving the chairman’s social media hint was a direct prelude to another massive Bitcoin purchase. This move reinforces Strategy’s unwavering accumulation strategy, even as both Bitcoin and its own stock stare down a potential losing year for 2025.
Decoding the Latest Strategy Bitcoin Purchase
The details from the filing are telling. The company purchased the BTC at an average price of $88,568 per coin. To fund this buy, Strategy sold 663,450 of its own shares (MSTR), converting equity directly into Bitcoin—a classic move in its treasury playbook.
This acquisition brings Strategy’s legendary treasury to 672,497 BTC, acquired for a total of $50.44 billion at an average cost of $74,997. Despite market volatility, the strategy has generated a 23.2% year-to-date yield on its Bitcoin holdings. This purchase comes after a brief one-week pause where the company boosted its cash reserves, showing a rhythmic, strategic approach to deployment.
Market Context: Buying Amidst Potential Yearly Losses
This Bitcoin purchase arrives at a critical moment. Bitcoin is down nearly 7% year-to-date, threatening to close 2025 in the red. Similarly, MSTR stock has plummeted 47% YTD. This context makes Strategy’s continued buying a profound statement of long-term conviction versus short-term price performance.
Critics like Peter Schiff have seized on the numbers, arguing the company’s average annualized return is low. However, this misses the strategic point: Strategy is not trading; it’s converting its corporate treasury into a digital hard asset for the long term.
Why This Purchase Matters for the Broader Market
Strategy’s actions serve as a high-profile gauge of institutional sentiment. Their continued buying, especially during periods of fear and potential yearly losses, sets a powerful example. It demonstrates a “time in the market” philosophy over “timing the market.”
For investors, it highlights a diverging path: you can trade the volatile stock (MSTR) or focus on the underlying asset (BTC) they are accumulating. Historically, Bitcoin has never posted two consecutive yearly losses, adding a statistical tailwind for a 2026 rebound that would massively benefit Strategy’s treasury.
My Take
This is textbook Saylor. While weak hands focus on yearly P&L, he’s playing a multi-decade game. Buying during potential yearly losses is the ultimate contrarian move. This Bitcoin purchase isn’t about 2025 performance; it’s about positioning for 2035. For the market, it provides a colossal, predictable bid. It also creates a compelling narrative for 2026: if history holds and Bitcoin rebounds, Strategy’s treasury—and potentially its stock—could see explosive upside. Ignore the noise; follow the accumulation.
