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Strategy executive chairman Michael Saylor has hinted that his firm will announce another Bitcoin purchase later today after pausing acquisitions last week.
“Back to Orange,” Saylor wrote in a Dec. 28 X post that included a screenshot of the SaylorTracker chart. Historically, similar posts have been followed by announcements that Strategy has bought more BTC.
If the recent post is followed by a Bitcoin buy announcement, the acquisition will come amid an ongoing decline in Strategy’s share price and low crypto investor optimism.
Chances That BTC Will Close 2025 At $100K Plummet To 1%
Bitcoin, along with the rest of the crypto market, has plunged over the past 3 months. During this period, the market’s leader, BTC, has seen its price drop over 21%.
The crypto had reached a new all-time high (ATH) of $126,080 on Oct. 6, but has since crashed more than 29%, data from CoinGecko shows. As of 11:35 a.m. EST, BTC trades at $89,582.97.
BTC price (Source: CoinGecko)
With Bitcoin’s price remaining below the $90K mark, traders on the decentralized prediction markets platform Polymarket only see a 1% chance that BTC will close the year off at or above $100K.
Adding to the negative outlook, the Crypto Fear & Greed Index shows that investors are currently extremely fearful.
Strategy’s Share Price Continues To Slide As Industry Executive Warns Most DATs Will Fizzle Out
Strategy is currently the largest corporate holder of BTC, and holds 671,268 coins on its balance sheet, according to Bitcoin Treasuries.
The company’s last purchase of 10,645 BTC for around $980 million was announced on Dec. 15, 2025. Strategy then paused its accumulation last week, and instead increased its USD reserves by $748 million.
Strategy has increased its USD Reserve by $748 million and now holds $2.19 billion and ₿671,268. https://t.co/EPtguJfWxR
— Michael Saylor (@saylor) December 22, 2025
Those large BTC holdings have seen the company become a sort of proxy for the price of Bitcoin. As such, the crypto market leader’s decline has added to the already-existing pressure on Strategy’s share price (MSTR) after the hype around crypto treasury companies started to cool off in the past few months.
In just the last month, MSTR has plunged over 10%, Google Finance shows. This added to the longer-term downtrend for the stock, with MSTR now more than 60% in the red on the six-month time frame.
The share prices of multiple other Bitcoin Treasury companies and digital asset treasury (DAT) firms have undergone a similar correction in the second half of this year, and industry executives say that the declines are likely to continue in 2026.
“Going into the next year, I think that the outlook for DATs is looking a bit bleak,” said MoreMarkets CEO Altan Tutar in a recent interview
He then predicted that “most Bitcoin treasury companies will disappear” along with the rest of the DATs. Tutar speculated that crypto treasuries that are focused on altcoins “will be the first to go,” because they won’t be able to sustain their company’s market value above the value of their crypto holdings.
“I suspect that the flagship DATs for large assets like Ethereum, Solana, and XRP will follow that way pretty quickly too,” he added.
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