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UNISaylor says Bitcoin bull market is beginning and hints at more Strategy buying
Strategy's executive chairman shared an orange-themed chart showing 848,517 BTC on 1 Nov, a day after the company reported record quarterly operating income of $20.9bn.
Key points
- Saylor's 1 Nov chart showed 848,517 BTC worth about $66bn across 119 purchase events, at an average cost of $75,446 per coin.
- Holdings rose 26% year to date, with $14.3bn of purchases through 25 Oct, while BTC Yield was negative 3.7%.
Michael Saylor has hinted that Strategy may buy more Bitcoin after saying a new Bitcoin bull market is beginning. The company's founder and executive chairman posted an orange-themed chart of its acquisition history on X on 1 Nov, writing that the company had "found room for even more orange", according to Bitcoin.com News.
A similar hint on 11 Oct showed 848,000 BTC, and Strategy disclosed a 250 BTC purchase for about $21.5m the next day.
The post followed Saylor's bullish comments in Strategy's 29 Oct earnings announcement, where he said Bitcoin was at the beginning of its next bull market, citing bank acceptance and renewed institutional demand.
A 26 Oct SEC filing showed no Bitcoin purchases or sales during 19-25 Oct, with $205m spent repurchasing Stretch preferred stock instead. The company held about 4.04% of Bitcoin's 21 million maximum supply.
Live updates on NewsFeeds:BitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.