Strategy intensifies Bitcoin offensive: New buy signals indicate billion-dollar expansion

Signals are intensifying – Michael Saylor is once again sending hints of an imminent Bitcoin accumulation. The Executive Chairman of Strategy (formerly MicroStrategy) posted a cryptic update on the company’s own Bitcoin tracker on Sunday with the caption “Back to more orange dots?” – a message that market participants and algorithms routinely interpret as a precursor to a completed purchase.

Impressive Balance Sheet: 660,000 BTC in Portfolio

The current tracking shows Strategy’s remarkable position: the company now manages approximately 660,000 BTC with a total portfolio value of nearly $59 billion. The average cost basis per Bitcoin is around $74,702. Since the start of systematic accumulation, a total of 88 separate purchase events have been documented.

These figures underscore Strategy’s transformation from a traditional software company to one of the world’s largest institutional Bitcoin holders. The last publicly confirmed acquisition involved 130 BTC. In parallel, data from BitcoinTreasuries.NET shows that the top 100 publicly traded companies together hold over 1,073,365 BTC – with Strategy holding the lion’s share.

Corporate Sector Follows the Trend

Other publicly listed corporations are intensifying their Bitcoin reserve buildup this week: ABTC led with a strong increase of 363 BTC, while Cango Inc. added 130.6 BTC. Also, Bitdeer, BitFuFu, Hyperscale Data, Genius Group, and Bitcoin Hodl Co. are expanding their holdings. This broader movement demonstrates that institutional Bitcoin engagement persists despite price fluctuations and reflects deep conviction in its long-term store of value utility.

Nasdaq-100 Status Secured Despite Criticism

Strategy successfully defended its place in the Nasdaq 100 index despite critical review during the annual restructuring in December. However, the company faces significant reservations: index providers and analysts argue that Strategy’s business activities resemble more that of a Bitcoin investment vehicle than a traditional company.

The index providers MSCI announced they will make a final decision in January 2026 on whether crypto treasury companies can remain in their standard benchmarks. Strategy counters these concerns with the thesis that it is an operational company with legitimate business operations – not just a holding fund.

Market Indicators Show Buying Pressure Among Investors

A significant indicator, however, points to tensions: the Net Unrealized Profit/Loss (NUPL) of short-term Bitcoin holders has fallen below zero. This is the lowest value since October 2023. The interpretation is clear – many current buyers are holding their Bitcoin positions at a loss. Such a market environment could, however, be seen as a buying opportunity for long-term accumulators like Strategy, which helps explain the renewed signals of purchase.