Michael Saylor has just broken a three-week silence by suggesting a new massive acquisition of bitcoin. This announcement comes at a time when its key financing vehicle, STRC preferred stock, is experiencing a historic decline below its face value.
In brief
- Saylor publishes the “Orange Dots” chart on X, a usual signal of an imminent bitcoin purchase by Strategy.
- STRC is going through a difficult time with increased financial pressures.
- Despite these tensions, Strategy continues to display a strategy resolutely oriented towards the accumulation of bitcoin.
- The market is now awaiting possible official confirmation.
Michael Saylor revives speculation around bitcoin
On June 21, 2026, the executive president of Strategy published on X the famous orange graph of bitcoin acquisitions of the company accompanied by a concise comment:
For crypto analysts, this type of publication is not trivial. Indeed, similar messages always precede the official announcement of new BTC purchases. This new signal could therefore announce a new imminent operation.
Currently, Strategy holds more than 846,000 bitcoins. Which makes it by far the largest institutional holder of BTC in the world.
The timing is intriguing: Strategy at the heart of a financing crisis
According to the datathe value of STRC has collapsed below $89 in recent days. This reduction automatically triggers an increase in the dividend rate paid to shareholders. This increases Strategy's annual costs by an additional approximately $53 million.
Result: the bitcoin purchases via STRC were reportedly suspended in June. The situation even led Strategy to sell 32 bitcoins in order to finance certain obligations linked to its preferred shares. An unusual decision for a company historically attached to conservation of your BTC !
At the same time, Strategy's mNAV (multiple of net asset value) fell to 1. According to the company's own policy, this level means that it would not be appropriate to issue new MSTR shares to raise funds.
Saylor is not his first display of composure
In 2022, Strategy held approximately 130,000 BTC worth $2.6 billion when the bitcoin price hovered around $20,000. Debt therefore exceeded assets and the stock fell by more than 45%. And yet, Strategy hadn’t sold.
A few days before this new signal, the company had acquired the equivalent of $100 million in bitcoin. This is a third consecutive week of accumulation.
Saylor also defended the strength of the balance sheet: BTC reserves and cash would now equal total debt of around $48 billion, with over $60 billion in capital raised since 2022.
Michael Saylor therefore does not seem to want to change course. For crypto investors, a question remains: how far will Strategy be able to pursue this bitcoin accumulation strategy without calling into question the financial balance of its ecosystem? The answer could come very quickly.
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