Yello Paradisers! Just when traders thought Strategy might be slowing down, Michael Saylor’s Bitcoin strategy hit the gas. On Friday, Strategy stunned markets with its largest BTC buy in months, 10,624 BTC for $962.7 million, purchased at an average of $90,615 per coin.

That pushes the company’s total stash to 660,624 BTC, now worth over $60 billion, acquired at a total cost of $49.35 billion. The company’s Bitcoin average purchase price now sits at $74,696.

The move was anything but expected. Just a week prior, Strategy had picked up a modest 130 BTC. One week before that? Nothing. Suddenly, they’re back with a nine-figure flex.

The Polymarket “No” Crowd Got Wrecked

Traders on Polymarket had bet big that Strategy wouldn’t make a large BTC purchase. Within minutes of the announcement, the “No” odds collapsed and the “Yes” prediction spiked to 99 percent.

That’s the game when Saylor’s in it. And this latest power move also came just after his appearance at the Bitcoin MENA event, where he called Bitcoin “digital capital” and pitched it as the foundation of a new yield-bearing asset class. He wasn’t bluffing.

Strategy’s Treasury Now Worth More Than Strategy

Here’s where things get weird. Strategy’s market cap now lags behind its BTC holdings. MSTR shares trade around $178, still down 51 percent on the year, while their treasury is booming.

With a market cap below its Bitcoin holdings, the stock now trades at an mNAV of 0.89. In plain English: you’re buying a billion-dollar BTC treasury at a discount, if you believe the company can hold the line.

And yet, Strategy kept issuing MSTR stock. They raised $928 million from a junior preferred share (STRD) paying a 10 percent dividend. Instead of saving cash for cushion, they went all in. Every dollar went straight to Bitcoin.

But What About the FUD?

Strategy still has $1.44 billion in fiat reserves, which it says can cover two years of dividends. So no, they won’t sell Bitcoin to meet obligations. There are no BTC-backed loans due and no fire sales in the pipeline.

CEO Phong Le recently responded to the panic: “There was FUD that we couldn’t meet our dividend obligations. That’s what caused the short Bitcoin bets. We just proved them wrong.”

Bitcoin Treasuries: Club 4 Million

With this move, the total BTC held by corporate treasuries now exceeds 4.02 million. Strategy owns over 16 percent of that, more than any other firm on Earth.

At this rate, joining the top 100 treasury list requires at least 125 BTC. And Saylor just grabbed 85 times that amount in a single week.

What This Means for You

This is not just a company accumulating BTC. This is a firm converting itself into a sovereign digital vault, one BTC buy at a time.

In upcoming YouTube Stream, MCP analyst will unpack whether Saylor is creating the next trillion-dollar asset class or heading into a leveraged spiral.

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