Michael Saylor, executive chairman of Strategy (MSTR), the largest publicly traded holder of Bitcoin More of the largest cryptocurrencies were purchased over the past week.
“More orange,” Seiler wrote in a Sunday morning X post.
For months, Thaler would typically preview Strategy’s Bitcoin purchases with a post mentioning the orange dot over the weekend, a signal that would usually be officially announced on Monday.
With the common stock down 6% this week, closing below $150 per share, the company’s ability to raise funds through market (ATM) sales may be limited, limiting the amount of BTC acquired.
Strategy’s perpetual preferred stock, Stretch (STRC), has been trading below its $100 face value all week, preventing the company from issuing shares through the ATM program associated with the instrument. The company recently increased its stock dividend rate to help boost the stock price.
Since the beginning of the year, the company has purchased approximately 40,000 BTC, bringing its total Bitcoin holdings to approximately 712,647 BTC.
At press time, Bitcoin was trading around $78,000.