Yeliz Akmaca 
The crypto market has been experiencing sharp declines, yet Michael Saylor’s company, Strategy, continues accumulating BTC. This marks the 12th consecutive week of purchases, drawing attention amid market volatility.
Saylor shared Strategy’s Bitcoin accumulation chart on X in his usual Sunday post. The chart highlights the company’s upcoming 99th BTC transaction, signaling that accumulation is ongoing despite market downturns.
The company’s most recent purchase occurred on February 9, when it bought 1,142 BTC for over $90 million. This brings Strategy’s total BTC holdings to 714,644, valued at approximately $49.3 billion at the time of writing.
Bitcoin came under significant pressure following the flash crash in October. Prices fell more than 50% from the all-time high above $125,000, dipping below Strategy’s $76,000 cost basis. Analysts predicted the company might sell its holdings or pause accumulation, but Saylor’s strategy remained unchanged.
Market and Crypto Treasury Pressures
Even before October, crypto treasury firms showed signs of strain. Many companies saw sharp drops in their stock prices, while mNAV (multiple on net asset value) fell below critical thresholds. Standard Chartered Bank reported that, as of September 2025, several leading treasury companies had mNAV values under 1.
-
Companies with mNAV > 1 have easier access to financing and stock issuance for crypto purchases.
-
Companies with mNAV < 1 are priced below total assets, signaling potential risk.
Data indicates the situation remains delicate. Strategy reported a $12.4 billion Q4 loss, sending its stock down roughly 17%, though recent days saw some recovery. Shares closed at $133.88 on Friday.
99>98 pic.twitter.com/BsTEvhbc9v
— Michael Saylor (@saylor) February 15, 2026
Saylor Signals New Move: 714,644 BTC and $5.1B Unrealized Gap
In his X post, Saylor hinted at continued accumulation with a “99>98” note. Analysts identify $72,000 as a key resistance level, with $4.34 billion in shorts at risk if BTC rallies 10%. Market pundits remain divided: AltcoinSherpa cites $60K–$70K as a buying zone, while CryptoQuant highlights $55K realized price and $39K risk.
Technical Analyst Commentary: BTC Reacts at $71,970
Our analyst notes that on February 12 at 19:00, Bitcoin did not form a new low, instead this area acted as liquidity absorption. After touching the demand zone on the 45-minute chart, BTC rebounded without closing below the previous dip—a positive signal. This recovery captured the short-term range.
The $71,970 level is crucial for Bitcoin. Since no new low formed, breaking this level is relatively easier due to limited sellers. If BTC holds above this zone, resistance targets could reach $78,000–$80,000.
Strategy continues to accumulate despite market drops, sending a message of confidence to investors and demonstrating resilience against short-term crypto volatility.,
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.