Strategy Might Be Buying More BTC: Here’s What Saylor Just Posted

Strategy Might Be Buying More BTC: Michael Saylor’s Post Fuels Speculation

Michael Saylor, executive chairman and co-founder of Strategy, hinted at a potential impending purchase on June 8 by posting a graphic showing the company’s Bitcoin holdings. Saylor shared the message, “Send more Orange,” on X on June 8. Announcements of fresh Bitcoin acquisitions frequently accompany Saylor’s enigmatic posts. If Strategy buys Bitcoin again after publishing this item, it will be the ninth week in a row that the business has done so.

Strategy Hits $61B in BTC Holdings After $75M Bitcoin Purchase

The post was made soon after the business acquired an extra 705 Bitcoin between May 26 and June 1 for around $75 million at an average price of $106,495 per coin. This increased the company’s total Bitcoin holdings to 580,955 Bitcoin, which is presently worth about $61.4 billion. The business is up almost 50% on its investment, or about $20.6 billion in unrealized profit, according to data from SaylorTracker.

Strategy to Sell $1B in Preferred Stock Amid Aggressive Bitcoin Strategy

Saylor’s X post comes after Strategy announced a $1 billion equity offering, quadrupling the $250 million it had previously raised. According to the company, the money raised will be used to pay for normal business expenses and more Bitcoin acquisitions. 11.76 million shares of its 10.00% Series A Perpetual Stride Preferred Stock, which is valued at $85 a share, are up for sale. Following the deduction of underwriting costs and other obligations, Strategy anticipates raising about $979 million. While the business keeps up its aggressive Bitcoin-collecting strategy, it hopes to provide investors with more consistent profits.

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