Strategy Inc. (Nasdaq: MSTR) may be preparing another bitcoin acquisition, based on a signal from Executive Chairman Michael Saylor. On October 11, Saylor posted a chart on X showing the company's bitcoin treasury alongside the message "There's always room for more orange," using orange circles to mark past purchases.
The chart displays Strategy's current holdings of 848,000 BTC valued at $70.48 billion, with an average acquisition cost of approximately $75,441 per coin. The company's bitcoin purchase history encompasses 117 separate transactions.
Pattern of Earlier Signals
Saylor's latest message follows a pattern of Sunday posts that have preceded formal announcements of bitcoin purchases. On October 4, he posted "More orange than ever," displaying 847,666 BTC. The following morning, Strategy announced a 334 BTC purchase for $28.7 million, raising holdings to 848,000 coins. The purchase occurred between October 1 and October 4, with an average price of approximately $85,839 per coin.
A similar sequence occurred in September, when Saylor's buying hint preceded two disclosed acquisitions totaling 1,665 BTC.
Funding Strategy
The most recent confirmed purchase was funded through a combination of newly issued common shares and existing cash reserves. Of the $28.7 million cost, $15.7 million came from stock sales and $13 million from the company's cash balance.
Strategy maintains a $4.88 billion cash reserve designated for preferred-stock dividends and debt interest obligations, with an additional $833.4 million available for corporate purposes including bitcoin acquisitions and capital management.
