Strategy flags new Bitcoin purchase as Saylor posts back to work
Saylor signaled new Bitcoin buys. Strategy’s “orange dot” is back, even as its BTC stack sits at an unrealized loss.
Michael Saylor posted the company’s orange dot chart with “back to work,” after a week with no purchases. Strategy will disclose the week’s buys on Monday.
Strategy holds 762,099 Bitcoin. At ~$69,000, the stash is worth just under $51B. The firm’s average cost is $75,699 per coin, about 11% above spot.
To keep buying, Strategy raises cash via equity issuance. It has at-the-money stock programs and preferreds outstanding, per company materials.
- The STRC preferred program funded more than 1,800 BTC of purchases, per Strategy.
- Reports indicate billions in remaining ATM capacity, allowing further buys.
The NAV premium slipped below 1, reducing the case to buy shares over BTC itself. Ongoing issuance dilutes existing holders.
If BTC revisits its $126,300 high, Strategy’s stack would exceed $96B. Dilution concerns ease in that scenario.
Stock signals turned negative. MSTR closed last week near $120, off from a $542 high, after breaking key support. A death cross is in place, and price has stayed below its Supertrend since August, reflecting a sustained downtrend.
