Michael Saylor hints at buying more Bitcoin as BTC price falls to $78,000

Strategy (MSTR) Executive Chairman Michael Saylor indicated that the largest publicly traded holder of Bitcoin (BTC) has purchased more of the largest cryptocurrency over the past week.

“More orange,” Saylor wrote in X’s post. sunday morning.

Saylor has been previewing the strategy’s Bitcoin purchases for months, usually in weekend posts referencing the orange dot, and that cue is usually followed by a formal announcement on Monday.

Given that the common stock has fallen 6% this week, ending below $150 per share, it is likely that the company’s ability to raise funds through over-the-counter ATMs (ATMs) has been limited, limiting the amount of BTC it can acquire.

Strategie’s perpetual preferred stock, Stretch (STRC), has traded below its $100 par value throughout this week, and the company is no longer able to issue shares through the ATM program associated with the product. that Recently increased Set the stock’s dividend rate to drive up the stock price.

The company has acquired approximately 40,000 BTC since the beginning of the year, bringing its total Bitcoin holdings to approximately 712,647 BTC.

At the time of this writing, Bitcoin is trading at around $78,000.

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