Michael Saylor signaled another possible Strategy bitcoin purchase on Sunday as bitcoin hovered near $66,000.

He wrote on X:

“The Second Century Begins.”

Saylor’s latest signal

Saylor posted Strategy’s BTC accumulation chart, a pattern he has used ahead of prior buys.

Strategy’s most recent purchase was in the last week of February, when it bought 3,015 BTC for more than $204 million.

That raised total holdings to 720,737 BTC, valued at about $48.1 billion at the time of publication.

Strategy’s bitcoin position is tracked publicly alongside other major holders such as BlackRock’s IBIT and other US bitcoin ETFs.

Cost basis and NAV discount

Bitcoin is trading below Strategy’s average purchase cost of about $75,985 per BTC, according to SaylorTracker data cited in the report.

Strategy also said its basic net asset value (NAV) is just below 1, implying the stock is trading at a discount to its bitcoin treasury.

Treasury market consolidation talk

Wojciech Kaszycki, chief strategy officer at BTCS, told Cointelegraph that the digital asset treasury market could consolidate in 2026 as cash-flow-generating firms acquire treasury companies trading below NAV.

He said:

“If you consolidate with another player, sometimes two plus two equals six or more, you can win faster, because everybody in this market trading below net asset value is struggling.”

Saylor rejects M&A approach

Saylor has dismissed buying distressed BTC treasury rivals, citing uncertainty and long deal timelines.

He said such processes can take “six to nine months or a year,” and that a deal can look different by the time it closes.