I just noticed that Michael Saylor is signaling an interesting pattern regarding the next Bitcoin purchase cycle of Bitcoin Strategy again. He posted a graph showing Bitcoin accumulation strategies with the message "The transition into a new century," which is a classic signal often seen before announcing additional BTC purchases.

What’s interesting is that Saylor also posted an AI image of himself holding a large orange bag with the message "Want a bigger orange bag," referencing the company's desire to expand its Bitcoin holdings. Currently, Bitcoin Strategy holds approximately 718,722 BTC with an average purchase price of $76,000 USD. The total asset value is around $48 billion USD.

The most recent purchase occurred on February 23, when the company bought 592 BTC for $39.8 million USD. Five days prior, it bought 2,486 BTC for $168.4 million USD. It’s clear that Bitcoin Strategy is in a vigorous buying cycle.

But even more interesting is the increase in the STRC dividend yield to 11.5%, the seventh increase since STRC launched in July 2025. The company uses monthly dividends to keep the trading price at $100 USD. While MSTR has fallen 26% over the past three months, STRC remains at a stable price level, creating an attractive yield asset for investors looking to cycle through Bitcoin growth with less risk.

The net asset value of Bitcoin Strategy’s market (mNAV) still stands at 1.256, indicating the company still has additional value from its Bitcoin assets. The company confirms there is no risk of a major liquidation unless Bitcoin drops to $8,000 USD, which seems unlikely in the current cycle.

Interestingly, 21Shares recently launched the 21shares Strategy Yield ETP on Euronext Amsterdam, providing direct exposure to STRC. It’s clear that Bitcoin Strategy is building a complex investment structure to allow investors to cycle through Bitcoin growth via multiple channels, whether holding MSTR or STRC directly.