Bitcoin Reclaims $66,000 as Michael Saylor Eyes 100th BTC Purchase

Strategy, formerly MicroStrategy, has made Bitcoin the centerpiece of its treasury strategy since 2020, funding purchases through equity and debt markets. That approach has turned the company into the largest corporate holder of the cryptocurrency and tied its valuation closely to Bitcoin. Executive Chairman Michael Saylor’s buying signals are therefore watched as a gauge of corporate demand and institutional confidence in digital assets.

After Saylor posted “We’re back” on Aug. 30, Strategy disclosed on Aug. 31 that it bought 4,603 Bitcoin for $369.7 million between Aug. 24 and Aug. 30, its first purchase in about two months. The average price was $80,318 per coin, lifting total holdings to 845,050 Bitcoin acquired for $63.73 billion. Bitcoin approached $79,000 as its share of the cryptocurrency market climbed above 60%.

Strategy, formerly MicroStrategy, has treated Bitcoin as its primary treasury asset since 2020 and funded further purchases through common-stock and bond issuance as well as STRC perpetual preferred stock. Its Bitcoin holdings are worth about $52 billion, making MSTR a key proxy for corporate Bitcoin exposure and putting its financing and dividend obligations under close scrutiny.

On March 22, Michael Saylor posted a purchase chart on X captioned “The Orange March Continues,” signaling that Strategy would keep buying. The company bought 17,994 Bitcoin on March 9 and another 22,337 on March 16, investing about $2.9 billion during the month. Bitcoin fell as low as $67,725 that day, below Strategy’s average cost of $75,696 and leaving its holdings with an unrealized loss of more than 10%.

MicroStrategy has long held large amounts of Bitcoin on its corporate balance sheet, and buying signals from Chairman Michael Saylor are often viewed as a barometer of institutional demand. A slight decline in its Bitcoin holdings had raised concerns that the company was reducing its position. Whether it continues buying therefore carries implications for confidence in large corporate demand and Bitcoin’s near-term outlook.

On Sunday, July 19, 2026, Saylor indicated that MicroStrategy would continue adding to its holdings, easing market fears that the company was cutting its position. Bitcoin rebounded quickly after falling below $60,000 and briefly touched $64,200. The market subsequently held steady, but confirmation of a shift from a downtrend to an uptrend will require stronger trading volume and sustained buying.

The Coinbase Premium Index tracks the Bitcoin price gap between Coinbase in the United States and other exchanges. A sustained positive reading typically signals stronger U.S. spot buying. The index remained above zero for 14 consecutive days, its longest bullish streak since Bitcoin set a record above $126,000 in October 2025, making it an important sign of recovering demand.

Bitcoin broke back above $76,000 on Tuesday, April 21, as Coinbase-led spot cumulative volume delta, or CVD, rose to $517 million from $55 million on April 17. Combined spot and futures CVD exceeded $8.5 billion. Bitcoin subsequently consolidated below $77,000, shifting the market's focus to whether $75,000 can become long-term support.

Strategy, formerly MicroStrategy (Nasdaq: MSTR), has pursued a Bitcoin treasury strategy led by co-founder Michael Saylor, steadily accumulating BTC through stock issuance and other fundraising. Its vast holdings have closely linked the company's share price to Bitcoin's performance, making it a key gauge of corporate cryptocurrency adoption.

In the week ended July 19, 2026, Strategy spent $76.6 million to buy 1,031 Bitcoin, a notably smaller purchase than in the previous two weeks. The acquisition was funded primarily through common-stock sales. The company's holdings rose to 762,099 BTC, acquired at an average cost of about $75,694 per Bitcoin.

Strategy, formerly enterprise software company MicroStrategy, has made Bitcoin a core asset in recent years and continued accumulating it through debt and stock issuance. It holds more Bitcoin than any other publicly traded company, so its purchases and Michael Saylor’s price forecasts are often viewed by the market as indicators of institutional confidence.

On July 20, 2026, Strategy said it had spent about $39.83 million to buy 592 Bitcoin at an average price of $67,286 each, raising its total holdings to 717,722 Bitcoin. Despite a weak market and unrealized losses, Executive Chairman Saylor said that if Bitcoin does not go to zero, it will eventually rise to $1 million.