Michael Saylor, executive chairman of MicroStrategy Inc. (Nasdaq: MSTR), shared an acquisition chart on X on October 4 that has renewed speculation the company could be adding to its bitcoin holdings. His message, which read "More orange than ever," accompanied an orange-dot chart marking the company's past bitcoin purchases.
The displayed chart values 847,666 BTC at approximately $72.29 billion and lists 116 purchase events with a $75,437 average cost. According to tracker-reported figures, the holdings have appreciated 12.65%, or roughly $8.12 billion.
Recent Purchase Activity
Saylor's latest message follows a pattern established in late September. On September 20, he shared a similar orange-themed signal when the disclosed balance stood at 845,050 BTC. The next day's filing reported a 950 BTC acquisition for $75.7 million, bringing the total to 846,000 coins.
A week later, the same pattern repeated. On September 27, Saylor posted "Even more orange" alongside a graphic valuing the then-disclosed holdings at $71.81 billion. MicroStrategy then disclosed a $142.7 million bitcoin acquisition on September 28, covering 1,665 BTC purchased between September 21-27 at an average of $85,681 each, including fees and expenses.
Financing and Treasury Management
The company has funded its bitcoin acquisitions in part through the issuance of common shares. As of September 27, MicroStrategy maintained a $5.02 billion reserve for preferred dividends and debt interest, plus $1 billion in separate cash available for treasury purposes.
The company's total acquisition cost for its bitcoin holdings reached $63.95 billion. Any new transaction would be established through subsequent corporate disclosure.
