Michael Saylor has renewed speculation on Oct. 4 that Strategy may have bought more Bitcoin after posting a new accumulation chart, with the company\u2019s last confirmed holdings at 847,666 BTC.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n Strategy\u2019s Sept. 28 SEC filing shows<\/a> that its latest confirmed purchase covered 1,665 BTC acquired for $142.7 million between Sept. 21 and Sept. 27. The company paid an average of $85,681 per coin, taking its total holdings to 847,666 BTC acquired for $63.95 billion.<\/p>\n Saylor posted<\/a> the words \u201cMore orange than ever\u201d alongside Strategy\u2019s Bitcoin purchase chart on Sunday. The message did not disclose a purchase amount, transaction date or price, meaning it does not by itself confirm another acquisition.<\/p>\n <\/p>\n As previously reported, Strategy\u2019s latest 1,665 BTC purchase<\/a> followed another acquisition one week earlier, when the company bought 950 BTC for $75.7 million at an average price of $79,670. The two transactions returned Strategy to consecutive weekly buying after earlier pauses.<\/p>\n Strategy\u2019s official Bitcoin ledger lists<\/a> 847,666 BTC as its latest reported balance. The company\u2019s aggregate acquisition cost stands at $63.945 billion, equal to an average of $75,437 per BTC including fees and expenses.<\/p>\n At Bitcoin\u2019s current price, the position carries a much higher market value. CoinGecko shows<\/a> Bitcoin trading near $85,250 on Oct. 4, up roughly 0.5% over 24 hours and trading inside a daily range of approximately $84,572 to $85,401.<\/p>\n Using that market price, Strategy\u2019s 847,666 BTC would be worth close to $72.3 billion. The calculation puts the market value roughly $8.3 billion above the company\u2019s reported $63.95 billion acquisition cost, though the figure changes continuously with Bitcoin\u2019s price.<\/p>\n Saylor\u2019s wording resembles an earlier weekend signal. Strategy\u2019s media feed shows<\/a> his previous \u201cEven more orange\u201d post alongside the company\u2019s recent Bitcoin updates. Strategy then disclosed the 1,665 BTC purchase on Sept. 28.<\/p>\n A similar pattern does not confirm that the Oct. 4 post will lead to another acquisition disclosure. No newer SEC filing has disclosed an additional Bitcoin purchase as of Sunday.<\/p>\n Strategy funded its most recent purchase through sales of MSTR common stock.<\/p>\n The company disclosed<\/a> that it sold 1,469,165 MSTR shares between Sept. 21 and Sept. 27, generating $246.2 million in net proceeds. Of that amount, $142.7 million funded Bitcoin purchases and $103.5 million funded repurchases of STRC preferred stock.<\/p>\n Another $48.1 million from existing cash was used for STRC repurchases, bringing the total preferred-share buyback to $151.7 million during the week. Strategy ended Sept. 27 with $5.02 billion in its U.S. dollar reserve and approximately $1 billion in separate USD cash.<\/p>\n The filing showed $18.84 billion remained available for issuance and sale under Strategy\u2019s MSTR at-the-market program as of Sept. 27. Separate available capacity stood at $17.51 billion for STRC, $4.01 billion for STRD, $2.1 billion for STRK and $1.62 billion for STRF.<\/p>\n STRC, STRD, STRK and STRF are preferred stocks, not corporate bonds. Strategy\u2019s filing identifies STRF and STRD as 10% perpetual preferred shares, STRK as 8% perpetual preferred stock and STRC as variable-rate perpetual preferred stock.<\/p>\n Strategy\u2019s own market dashboard reported<\/a> an mNAV ratio of 1.18x using market data last updated Oct. 2. MSTR stood at $159.11, while the dashboard listed the company\u2019s Bitcoin position at 847,666 BTC and preferred stock at roughly $14.13 billion.<\/p>\n The company-defined mNAV measure can move with MSTR, Bitcoin and Strategy\u2019s capital structure. It should not be treated as confirmation of a future Bitcoin purchase.<\/p>\n Saylor\u2019s latest post comes as U.S. spot Bitcoin ETF holdings have continued to rise alongside Bitcoin\u2019s recovery.<\/p>\n CryptoQuant analyst Amr Taha reported<\/a> that U.S. spot Bitcoin ETF holdings increased from roughly 1.20 million BTC on July 1 to approximately 1.288 million BTC by Oct. 4.<\/p>\n The change represents nearly 88,000 BTC, or 7.3%, according to the analyst. Bitcoin rose from around $59,500 to roughly $85,000 during the same period, an increase close to 43%.<\/p>\n Taha said ETF-held Bitcoin continued increasing while price moved higher, although the data do not establish how much of the rally was caused by ETF demand. ETF holdings grew at a slower rate than Bitcoin\u2019s price over the three-month period.<\/p>\n Recent Bitcoin analysis around the $82,000 support level<\/a> similarly identified ETF inflows and corporate purchases among the demand factors entering October, while noting that neither guarantees continued price gains.<\/p>\n CryptoQuant CEO Ki Young Ju has taken a more bullish view of the current cycle. In comments discussed<\/a> by CryptoQuant analyst XWIN Japan, Ju said he believes Bitcoin\u2019s bear market \u201cended this summer\u201d and described the market as being in the early stages of a new cycle.<\/p>\n The analyst\u2019s report pointed to stronger inflows into accumulation addresses, reduced selling from older whales and a less extreme MVRV profile than in earlier cycles. Ju\u2019s reported expectation of a possible 3\u20135x move from cycle lows remains a forecast and does not establish where Bitcoin will trade next.<\/p>\n Strategy has not disclosed how much Bitcoin, if any, it acquired after Sept. 27.<\/p>\n Its latest regulatory filing leaves substantial MSTR issuance capacity available, but unused capacity does not show that shares have since been sold or that the resulting proceeds have been deployed into Bitcoin.<\/p>\n The company\u2019s recent pattern means its next official disclosure will provide the clearest answer. Its Sept. 28 filing states<\/a> that Strategy uses its website dashboard as a Regulation FD disclosure channel for Bitcoin purchases, holdings, securities prices and other company information.<\/p>\n The latest entry on Strategy\u2019s Bitcoin ledger remains the Sept. 28 update covering 1,665 BTC purchased during the week ended Sept. 27.<\/p>\n <\/p><\/div>\n\n
Strategy\u2019s latest Bitcoin buy took holdings to 847,666 BTC<\/strong><\/h2>\n
Strategy still has billions available under its stock program<\/strong><\/h2>\n
Bitcoin ETF holdings have risen with price since July<\/strong><\/h2>\n
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A new Strategy purchase still needs confirmation<\/strong><\/h2>\n