Michael Saylor, Hints at additional Bitcoin purchase… Holdings near 600,000 pieces

Michael Saylor, Chairman of Strategy, who is preaching that a bear market is an opportunity (Source: Fortune)

MicroStrategy, known as the company with the largest Bitcoin holdings, is once again raising market expectations by announcing additional Bitcoin purchases. On the 22nd (local time), company founder Michael Saylor hinted at the timing of the purchase by leaving a familiar expression, “Cannot stop the orange,” on his X (formerly Twitter) account.

‘Orange’ has been a symbol Saylor used to refer to Bitcoin over time, and this statement is interpreted as suggesting that the current decline in Bitcoin price is a buying opportunity. In fact, he has left similar hints over weekends just before Bitcoin purchases, and the same pattern was repeated again this time.

MicroStrategy recently announced plans to additionally purchase 11,000 Bitcoins. Currently, the company holds a total of 592,100 BTC, which is equivalent to about $60.8 billion at current market prices. The company's average purchase price for Bitcoin is about $70,664, resulting in an appraisal profit of approximately 45% based on the current price of about $102,600.

Bitcoin accounts for about 59% of MicroStrategy's total market capitalization, which amounts to approximately $103.3 billion. The current market capitalization of the company is about 1.699 times the net asset value (NAV). Saylor continues to purchase consistently regardless of short-term market trends according to a long-term strategy, and cumulative purchases have already surpassed 140,000 BTC.

If this statement leads to actual purchases, MicroStrategy is likely to become the first listed company that exceeds a total holding of 600,000 BTC. Investors are closely monitoring Saylor's actions.