Michael Saylor has put Strategy (MSTR) back to work in the Bitcoin (BTCUSD) market. The executive chairman posted “A little more orange” on X, along with a chart of the company’s purchase history. He was referring to the company's Bitcoin purchases on the chart marked in orange bubbles. A filing on Sept. 21 confirmed the hint. Strategy bought 950 Bitcoin for about $75.7 million between Sept. 14 and Sept. 20, paying an average of $79,670 per coin. It now holds 846,000 Bitcoin at an average cost of $75,416. This is the first purchase in three weeks and only the second since a two-month pause ended in late August. Bitcoin’s climb back to around $85,000, an eight-month high, has helped. The stock has gained roughly 8% in the last five days alone.
This was desperately needed. MSTR stock had slipped from its 52-week high of $365.21 in October last year to its 52-week low of $81.81 in June this year. Despite Saylor’s long-running “never sell” stance, Strategy sold Bitcoin four times over the summer, raising roughly $544 million.
