Strategy Inc. (Nasdaq: MSTR), which operates as both a software intelligence firm and a bitcoin treasury company, hinted on Feb. 15 that it may have expanded its bitcoin holdings as it highlighted the scale and performance of its digital asset reserves.

Strategy Executive Chairman Michael Saylor shared on social media platform X, “99>98,” alongside an orange dot chart tracking the company’s historical BTC purchases. The visual plotted each acquisition point over time, reinforcing Strategy’s pattern of systematic accumulation across market cycles.

Saylor frequently uses orange dot charts as a tactical signal to telegraph incoming bitcoin acquisitions by Strategy. Each dot on his Strategy Tracker chart represents a discrete buying event, and he often captions these posts with cryptic phrases like “Back to More Orange Dots” or “Orange Dots Matter” just days before official SEC filings confirm a new purchase.

The phrase “99>98” sparked widespread curiosity across the crypto market, with some X users questioning its meaning. Some observers explained that the message signals that the next announcement would represent Strategy’s 99th bitcoin purchase, which would exceed the size of the 98th acquisition of 1,142 BTC.

Strategy has purchased BTC 98 times, steadily increasing its exposure despite volatility and shifting macro conditions. As the largest corporate holder of bitcoin, the company’s bitcoin treasury strategy remains closely watched by institutional investors evaluating balance sheet allocation, leverage dynamics, and long-term digital asset adoption trends.

Separately, data published on Strategy’s website shows total holdings of 714,644 bitcoin acquired at an average price of approximately $76,056 per BTC, representing an aggregate cost basis of around $54.35 billion. The company’s bitcoin reserve value has fluctuated around the $50 billion mark depending on market pricing, with the most recent disclosed purchase on Feb. 9 totaling 1,142 BTC at an average price of $78,815.

• What does Michael Saylor’s “99>98” mean for Strategy’s bitcoin purchases?
  It suggests Strategy may be preparing its 99th bitcoin acquisition, potentially larger than its previous 1,142 BTC buy.
• How much bitcoin does Strategy currently hold?
  Strategy holds 714,644 bitcoin accumulated across 98 separate purchases.
• What is Strategy’s average bitcoin acquisition cost?
  The company’s average acquisition cost is about $76,056 per bitcoin.
• Why do investors closely track Strategy’s bitcoin reserve?
  As the largest corporate holder of BTC, its purchases are viewed as a proxy for long-term bitcoin adoption.

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