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Michael Saylor’s Bitcoin treasury firm Strategy appears poised to complete its 100th Bitcoin acquisition, nearly six years after launching its accumulation strategy in 2020.
In a Saturday post on X, Saylor shared a StrategyTracker chart with the caption “The Orange Century,” a phrase widely interpreted as signaling another purchase.
The company has made 99 Bitcoin buys to date, according to its website. Strategy has purchased BTC for 12 consecutive weeks in 2026 despite volatile market conditions. A new acquisition this week would extend that streak to 13 weeks.
The firm currently holds 717,131 BTC at an average purchase price of $76,027 per coin. With Bitcoin trading near $64,700, Strategy’s aggregate position is temporarily below its cost basis.
Strategy’s Bitcoin journey began in August 2020 with a $250 million purchase spearheaded by Saylor, who had previously expressed skepticism about the asset. The company framed the move as a hedge against inflation and a long-term store of value for its treasury reserves. Over time, Bitcoin became central to Strategy’s corporate identity and capital allocation strategy. The firm steadily expanded its holdings through equity raises, convertible debt offerings and operating cash flow.
Its approach helped redefine how public companies could treat digital assets on their balance sheets. Strategy is now the largest public holder of Bitcoin globally. The company’s model has influenced dozens of other firms to adopt similar digital asset treasury strategies.
Since its first Bitcoin purchase in 2020, Strategy’s share price has risen approximately 950%, according to Yahoo Finance data. The stock has climbed from about $12.44 at the time of the initial buy to roughly $131.05 currently. The rally underscores how closely the company’s equity performance has tracked Bitcoin’s broader adoption cycle. However, the model also exposes shareholders to significant volatility during downturns.
With Bitcoin currently trading below Strategy’s average purchase price, the firm is sitting on unrealized losses. Even so, management has shown no sign of pausing accumulation. As the company approaches its 100th Bitcoin purchase, it continues to double down on a strategy that has reshaped both its balance sheet and market identity.
Recently we wrote that Bitcoin supporters are divided over whether Bitcoin is money or a commodity, as well as over how Bitcoin is perceived by its largest public holder — Michael Saylor and his company, Strategy. In Satoshi Nakamoto’s original Bitcoin white paper, the first cryptocurrency was envisioned as “a peer-to-peer electronic cash system.” However, Michael Saylor appears to have a wholly different view on this.