Saylor hints at another Strategy bitcoin buy with 'Even more orange' post
Michael Saylor shared a chart of Strategy's 846,000 BTC holdings on Sept. 27, reviving speculation that the company will disclose another bitcoin purchase.
Key points
- Saylor posted 'Even more orange' alongside a chart of Strategy's bitcoin holdings on Sept. 27.
- The chart shows 846,000 BTC valued at $71.81 billion, with an average acquisition price of $75,416 per coin.
- Strategy's last confirmed purchase was 950 BTC for $75.7 million, reported in a Sept. 21 SEC filing.
- A similar teaser on Aug. 30 preceded a $369.7 million purchase of 4,603 BTC disclosed the next day.
- Strategy reported $1.05 billion in USD cash as of Sept. 20 and spent $174 million repurchasing STRC preferred stock.
Michael Saylor has again hinted that Strategy Inc. may be about to add to its bitcoin treasury. On Sept. 27 the company's executive chairman shared a chart of its holdings with the message 'Even more orange', according to Bitcoin.com News. The chart marks Strategy's purchases with orange circles and shows 846,000 BTC worth $71.81 billion at the time it was captured.
The post has renewed speculation about another Strategy bitcoin buy, though only a company disclosure would confirm one. The chart lists an average acquisition price of $75,416 per bitcoin. The dollar figure reflects bitcoin's market price and can move even when the number of coins held stays the same.
Strategy's most recent confirmed transaction was reported in a Sept. 21 filing with the Securities and Exchange Commission. The company bought 950 BTC for $75.7 million during the preceding week, bringing its holdings to 846,000 BTC as of Sept. 20. That purchase returned the company's holdings to a level it held during the summer, before further bitcoin sales.
Saylor posts orange chart
In the same reporting period, Strategy spent $174 million repurchasing its STRC preferred stock. The company also reported $1.05 billion in USD cash as of Sept. 20, which it may use for bitcoin purchases or other corporate purposes.
Saylor has used a holdings chart to signal a purchase before. On Aug. 30 he shared a 'We're Back' message while Strategy awaited its next transaction disclosure, when reported holdings stood at 840,447 BTC. The following day the company disclosed a $369.7 million bitcoin purchase totalling 4,603 BTC. That sequence gives the latest orange chart a precedent, though the size and timing of any new transaction remain subject to Strategy's next disclosure.
The $71.81 billion figure in the chart represents the market value of Strategy's coins at a particular bitcoin price, not what the company spent to acquire them. Its latest ledger entry, the 950 BTC purchase reported Sept. 21, brings the total cost of its current holdings to about $63.8 billion. For a company running a bitcoin corporate treasury, that distinction matters, because a price move can raise or lower the reported value of the reserve without any purchase or sale.
Last confirmed purchase
Strategy has also reiterated its ambition to become the world's largest company by market capitalisation, outlining a capital strategy built on bitcoin. Bitcoin.com News reports that the company's next filing will show whether Saylor's latest message preceded another acquisition.