Michael Saylor, founder and executive chairman of MicroStrategy Inc., signaled interest in further bitcoin purchases on November 15 amid a sharp market decline. Sharing a chart tracking the company's bitcoin acquisition history, Saylor posted on X: "This dip could use a little orange," referring to orange markers that denote purchase events on the tracker.
The hint comes as MicroStrategy's bitcoin reserve showed a market value of $55.7 billion, compared with a disclosed acquisition cost of $64.16 billion. At the company's disclosed holding level of 850,364 BTC, each $1,000 movement in bitcoin's price changes the reserve's market value by approximately $850 million.
MicroStrategy disclosed a purchase of 1,036 bitcoin for approximately $81.9 million during November 2-8, with common-stock sales and $188.3 million in repurchases of preferred shares financing the acquisition. The company's average purchase price stood at $79,012 per bitcoin for this latest batch.
Strive Chairman and CEO Matt Cole also signaled buying interest on November 15, stating: "Bitcoin's cheap, we want more."
MicroStrategy's holdings represent approximately 4.05 percent of bitcoin's maximum 21 million supply. The company also maintained a $4.77 billion reserve designated for preferred-stock dividends and debt interest as of November 8.
Additionally, MicroStrategy faced removal from the MSCI USA Index following the benchmark's quarterly review. The deletion of the company's Class A stock takes effect after November 30 and could prompt index-tracking funds to adjust their holdings.
