The Strategy company could soon strengthen its bitcoin reserves, after a new message from Michael Saylor published on October 11. The manager shared an orange graph which revives speculation about an upcoming acquisition. This publication comes a few days after a purchase of 334 BTC, valued at $28.7 million. However, the company’s cash reserves must also cover its financial obligations, including dividends and interest on its debt.
In brief
- Michael Saylor publishes a new index suggesting an additional purchase of bitcoin by Strategy.
- Strategy’s portfolio reaches 848,000 BTC, valued at $70.48 billion.
- The company recently purchased 334 BTC for $28.7 million.
- Strategy financed this acquisition through the sale of MSTR shares and its available cash.
- Its dollar reserves must also cover dividends and interest on its debt.
Strategy: Michael Saylor hints at a new purchase of bitcoin
On October 11, Michael Saylor published a new message on X suggesting a possible acquisition of bitcoin by Strategy. The company’s executive chairman accompanied his publication with a graph tracing the company’s successive purchases. The orange circles represent the different operations carried out over time. “There is always room for more orange,” he wrote, without directly announcing a new transaction.
The chart shows a portfolio of 848,000 BTC, the value of which reaches $70.48 billion. It also shows an average acquisition cost of approximately $75,441 per unit. According to Strategy’s transaction history, thecompany carried out 117 purchasing operations. This data makes it possible to monitor the evolution of its reserves and to compare acquisitions with market prices.
However, the displayed value depends directly on the market price at the time in question. A variation in the price can therefore modify the total value of the portfolio without causing a movement in the reserves. The balance of 848,000 BTC corresponds to the assets declared as of October 4. A new official communication will make it possible to verify whether Saylor’s latest message actually announces an additional acquisition.
Precedents Reinforce Speculation Around Strategy’s Bitcoin Purchases
Michael Saylor’s publications on the theme of the color orange have already preceded several purchase announcements. On October 4, the leader wrote “ More orange than ever » by sharing a graph dedicated to his company’s reserves. This then displayed 847,666 BTC, the balance communicated before the next update. The message thus drew attention to a possible new treasury operation.
The following day, Strategy confirmed the purchase of 334 BTC for a total amount of $28.7 million, including fees and expenses. The company made this acquisition between October 1 and 4. Its average price stood at approximately $85,839 per bitcoin, surpassing the wallet’s historical average cost. This announcement confirmed the completion of a new operation after the message published the previous Sunday.
A comparable precedent appeared at the end of September. On September 27, Saylor posted another message discussing adding more orange. Strategy previously announced the purchase of 950 BTC on September 21, then reported an additional acquisition of 1,665 BTC for the week ended September 27. These episodes explain why observers follow the leader’s publications. However, an evocative message does not constitute official confirmation of purchase.
An acquisition financed by shares and available cash
The latest confirmed transaction shows how Strategy finances its bitcoin purchases. According to his financial report published on October 5, the company mobilized two sources of financing to acquire the 334 BTC. The sale of new MSTR common stock generated $15.7 million. The company supplemented this sum with $13 million drawn from its dollar liquidity._
This breakdown brings the total reported cost of historic acquisitions to approximately $63.97 billion. It also illustrates the role of equity financing in the company’s cash flow strategy. At the same time, available liquidity makes it possible to support operations without depending solely on new issues. Future announcements will have to clarify whether Strategy retains this approach for its possible additional purchases.
Michael Saylor has long championed the use of bitcoin as a way to store economic value in digital form. In August, he presented this feature as a major breakthrough, allowing individuals, businesses, machines and governments to control this value. This vision remains at the heart of Strategy’s accumulation policy. However, the company must also preserve the resources necessary for its other financial commitments.
Dollar Reserves Remain Key to Strategy Bonds
Beyond its cryptocurrency acquisitions, Strategy must finance several commitments to its investors and creditors. Its dollar reserves are used in particular to pay dividends linked to preferred shares and interest on its outstanding debt. These expenses require separate management of funds devoted to BTC purchases. The company must therefore choose between accumulating new assets and maintaining sufficient liquidity.
As of October 4, Strategy had a reserve of $4.88 billion intended to cover these payments. It also held an additional $833.4 million in cash for general purposes. This second envelope can notably support the acquisitions of cryptocurrencies and capital management. These amounts show that the company keeps resources allocated to several objectives, beyond its sole purchasing policy.
The publication of October 11, however, does not make it possible to determine whether a new transaction has already been carried out or is simply being considered. The next Strategy report must provide concrete information on the evolution of its reserves. If the company confirms a new purchase, investors will be able to assess its amount, financing and its effect on the average cost of the portfolio. Until then, bitcoin remains at the center of Saylor’s strategy, while the balance between accumulation and financial obligations remains an important factor for the company’s next decisions.
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