Reports from Cointelegraph indicate that Michael Saylor, co-founder of Strategy, may be hinting at a forthcoming Bitcoin (BTCUSD) purchase. This speculation comes after the company secured additional funding this week through its most recent preferred stock offering.
Saylor stirred the crypto community by sharing a Sunday Bitcoin chart on X, suggesting another Bitcoin acquisition could be imminent. His cryptic message, “needs more orange,” hints at the company’s intent to expand its Bitcoin holdings.
As per data from SaylorTracker, Strategy’s latest Bitcoin acquisition happened on March 17, when it bought 130 BTC, valued at $10.7 million. This addition increased their total Bitcoin holdings to a staggering 499,226 BTC.
On March 21, Strategy announced the pricing of its latest batch of preferred stock, sold at $85 per share with a 10% coupon. According to Strategy, this offering is expected to generate roughly $711 million in revenue.
Saylor continues to champion the Bitcoin network, encouraging numerous publicly traded companies to embrace BTC as a treasury asset. He is also advocating for the US government to increase their Bitcoin holdings.
Saylor has proposed that the US government should secure 25% of Bitcoin’s total supply by 2035 — when 99% of all BTC would have been mined. He has also pushed for a comprehensive digital assets policy in a proposal titled, “A Digital Assets Strategy to Dominate the 21st Century Global Economy.”
Despite the recent market downturn, Strategy’s Bitcoin investment has appreciated by over 28%, with the company sitting on over $9.3 billion in unrealized gains.
