Strategy (MSTR) CEO Michael Saylor indicated that the largest publicly traded bitcoin holder bought more of the largest cryptocurrency over the past week.
“More orange,” Saylor wrote in an X post on Sunday morning.
For months, Saylor has typically anticipated Strategy’s bitcoin purchases with a weekend post referencing orange dots, a signal that is usually followed by a formal announcement on Monday.
Since the common stock fell 6% over the week, closing below $150 per share, the company’s ability to raise capital through ATM sales was likely limited, limiting the amount of BTC acquired.
Stretch (STRC), Strategy’s perpetual preferred stock, traded below its $100 face value all week, preventing the company from issuing shares through the ATM program linked to that instrument. It recently increased the stock’s dividend rate to help lift the price.
The company has acquired approximately 40,000 BTC since the beginning of the year, bringing its total bitcoin holdings to approximately 712,647 BTC.
At press time, bitcoin is trading around $78,000.
