Bitcoin: Michael Saylor is about to deliver the 101st blow

Is the bear market scary for Michael Saylor? The question seems almost ridiculous because the man seems insensitive to the fluctuations of the market. As investors flee risky assets, he continues to display a disturbing calm on social media. His latest message “The Second Century Begins” immediately sparked reactions from the crypto community. A new Bitcoin purchase is underway at Strategy. Nothing seems to be able to stop this well-oiled machine.

The Saylor Ritual: Buy BTC at Any Price, Be Better With Cryptocurrencies

First, let’s note a signal that doesn’t fool anyone in the industry. Michael Saylor posted on X his famous “ The second century begins “, along with the Strategy’s Accumulation chart. For the insiders, this means an immediate purchase of Bitcoin. The first hundred, very precisely, since the first purchase in August 2020.

Next, let’s look at the numbers of the last known purchase, made between February 23rd and March 1st. Strategy raised 3,015 BTC for over $204 million. The average price paid was $67,700 per Bitcoin. The company’s treasury now stands at 720,737 BTC, which is approximately $48.7 billion at the current price.

However, Strategy’s total average purchase price is $75,985. Specifically, the company is currently in an unrealized loss on all of its holdings. But Saylor was undeterred and never looked back. It draws on STRC’s debt and preferred stock, with volumes rising to $260 million on March 6. The machine never stops, whatever the market conditions.

When asked about mergers and acquisitions, he recently said:

These things tend to last six to nine months or a year. An idea that seems good at first may not be so six months later.

Bitcoin under geopolitical tension: why Saylor famously ignores the bear market

While the strategy is buying, the economic environment around it is seriously deteriorating. Tensions between the United States and Iran have escalated in recent days, raising fears of open conflict in the Middle East. Such events traditionally weigh on risky assets, and Bitcoin was no exception to this rule.

The cryptocurrency queen dropped below $70,000, struggling to maintain this important psychological boundary for investors. It remains far from its October 2025 peak of $126,000.

At the same time, Bitcoin spot ETFs have been suffering massive outflows for several months. The numbers speak for themselves: $7 billion in November, $2 billion in December, $3 billion in January. Institutional investors are pulling their money with no apparent qualms.

On the macro-economic side, inflation remains stagnant while unemployment rises dangerously. Liquidity is tightening on the financial markets. Even BlackRock, the world’s largest asset manager, recently limited withdrawals from certain funds.

In this context of widespread mistrust of cryptocurrencies, Saylor’s purchases seem like an act of faith detached from immediate reality.

Saylor’s strategy in key characters

• 720,737 bitcoins: amount held by Strategy, worth $48.7 billion;
• $75,985: total average purchase price of the company across all acquisitions;
• $67,551: current bitcoin price, well below the cost price of the strategy;
• $260 million: volume of STRC preferred stock traded on March 6;
• 3,015 Bitcoins: the size of the last confirmed purchase made during the last week of February.

Crises are hard, but not everyone in the industry reads them the same way. Willy Woo, a respected analyst, sees the current recovery as just a temporary illusion before another downturn. Meanwhile, Saylor continues to stack bitcoins like there’s no tomorrow. Who will be right in this war of visions?

DISCLAIMER OF LIABILITY

The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Before making any investment decision, do your own research.