Strategy founder Michael Saylor signaled a return to buying Bitcoin with a “More Orange” post on his social media account.
Following Saylor’s previous posts using similar wording, the company’s recent announcement that it was increasing its Bitcoin holdings strengthened expectations among investors that a new purchase announcement was imminent.
Market participants believe that Saylor’s latest post suggests the company may announce an increase in its Bitcoin reserves next week. In the past, Strategy has typically followed such suggestive posts with public announcements of new BTC purchases the following day or shortly thereafter.
According to the company’s current data, Strategy’s total Bitcoin holdings stand at 712,647 BTC. The total value of this reserve is estimated at approximately $55.44 billion, with an average purchase cost of $76,038. Considering current prices, the company’s position appears to be approximately 2.32% positive.
However, the recent pullback in BTC price has put pressure on the company’s shares. While Bitcoin has lost approximately 20.3% of its value since the beginning of the year, Strategy shares have fallen by 55.3% in the same period.
According to the latest 30-day volatility data, Strategy shares top the list with a 57.7% volatility rate. BTC is in third place with a volatility of 36%.
*This is not investment advice.
hah no, BTC will continue to tank beyond next week. Don’t be a bagholder, buy at the bottom