Saylor Signals Another Bitcoin Buy Amid Market Downturn

Michael Saylor, co-founder of Bitcoin treasury company Strategy, said on Sunday the firm is buying more BTC as the price hovers near $66,000. He posted on X, 'The Second Century Begins,' and shared Strategy’s BTC accumulation chart that has become synonymous with impending BTC purchases.

Strategy’s most recent purchase occurred in the last week of February, when the company bought 3,015 BTC for more than $204 million, bringing its total holdings to 720,737 BTC valued at about $48.1 billion using market prices at the time of publication. Bitcoin is currently below Strategy’s average purchase cost of about $75,985 per BTC, SaylorTracker data shows.

The company continues to accumulate BTC through debt and equity financing, even amid a broad market downturn and a collapse in net asset values for Treasury companies. Strategy says its basic NAV is just below 1, meaning it is trading at a discount to its BTC treasury.

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