Strategy (MSTR) Executive Chair Michael Saylor indicated that the largest publicly traded holder of bitcoin bought more of the largest cryptocurrency over the past week.
“More Orange,” Saylor wrote in an X post Sunday morning.
For months, Saylor has typically previewed Strategy’s bitcoin purchases with a weekend post referencing orange dots, a signal usually followed by a formal announcement on Monday.
Given that the common stock fell 6% on the week to close below $150 per share, it is likely that the company’s ability to raise capital through selling on the market (ATM) was limited, limiting the amount of BTC acquired.
Stretch (STRC), Strategy’s perennial preferred stock, is trading below its $100 par value for the entire week, preventing the company from issuing shares through the ATM program associated with that instrument. It recently raised the dividend rate on the shares to help lift the price.
The company has acquired around 40,000 BTC since the start of the year, bringing its total bitcoin holdings to approximately 712,647 BTC.
As of press time, bitcoin is trading around $78,000.
