Oil closed October at $117.64 per barrel while US inflation stands at 3.7%. Two Federal Reserve officials recently advocated for an additional rate hike, and the Fed kept its target range at 3.75%–4% on October 28.
MicroStrategy’s Potential Bitcoin Buy
Michael Saylor posted a chart on Sunday with the caption “We found room for even more orange,” suggesting the company could announce another Bitcoin purchase on Monday.
Company Outlook
In its Thursday earnings release, Saylor stated that the firm is “at the beginning of the next bitcoin bull market.” The company currently holds 848,517 BTC, valued at roughly $66 billion based on the latest price, against a purchase cost of about $64 billion.
Recent Activity
- October purchases included 334, 250 and 267 BTC over three weeks.
- The firm paused buying Bitcoin to spend $204.9 million on repurchasing its dividend‑paying preferred shares (STRC).
- In the third quarter, it sold 5,552 BTC to fund preferred dividends and share buybacks.
Shareholder Considerations
MicroStrategy often issues new MSTR shares to fund Bitcoin acquisitions, which can dilute existing shareholders even as total Bitcoin holdings increase. The Bitcoin‑per‑diluted‑share metric fell 3.7% this year. Additionally, new MSCI index rules could affect the company’s inclusion in certain passive funds.
Outlook
The upcoming filing on Monday will reveal whether the company proceeds with another Bitcoin purchase. For shareholders, the key measure will be whether each share represents a larger portion of Bitcoin after any new acquisition.
