Michael Saylor has signaled that Strategy may have purchased additional Bitcoin last week, following a significant decline in the cryptocurrency's price. The hint came via a social media post sharing the company's Bitcoin portfolio tracker with the caption, "This dip could use a little orange."
Bitcoin has fallen to as low as $62,000 over the last 24 hours, representing a decline of more than 17% over the previous month after dropping from above $80,000. The price movement has placed Strategy's Bitcoin holdings in unrealized losses of more than $9.5 billion, according to DropsTab data.
Strategy is also confronting potential market consequences from its Bitcoin concentration. The company faces exclusion from MSCI's global indexes by the end of this month following its classification as a non-operating company with major reliance on its BTC strategy. Metaplanet, another Bitcoin treasury firm, will also be removed from the indexes.
Strive's CEO Matt Cole similarly hinted at a fresh Bitcoin purchase, posting his company's portfolio tracker with the caption, "Bitcoin's cheap, we want more." Strive holds 43,153 BTC, making it the fourth-largest Bitcoin treasury firm behind Strategy, Metaplanet, and Twenty One Capital.
Strive has increased its Bitcoin acquisitions in recent months, buying BTC weekly since July 2. The company's stock has gained more than 40% year-to-date despite recent bearish price action in Bitcoin, unlike Strategy's stock, which is down more than 27% for the year.
