Michael Saylor Teases New Bitcoin Buy for Strategy

Michael Saylor, the founder and chairman of Strategy (formerly MicroStrategy), has hinted at another massive Bitcoin purchase. His statement, "More orange than ever," refers to a chart from the StrategyTracker platform dated October 4, 2026, showing an all-time high density of orange purchase markers. This comment typically precedes official filings with the U.S. Securities and Exchange Commission (SEC) regarding large Bitcoin acquisitions.

Strategy holds the largest corporate Bitcoin portfolio in history, with 847,666 BTC, representing about 4.04% of Bitcoin's total supply. The company has spent $63.95 billion on these purchases, averaging $75,442.45 per coin. At current market prices, the reserves are valued at $72.20 billion, resulting in an unrealized net profit exceeding $8.25 billion. Since the start of the year, the portfolio has grown by 26.05%, with recent purchases made in late September at prices close to the portfolio's average.

Saylor's claim about the "more orange than ever" balance is also reflected in the stock market. Strategy's shares currently trade at a 14% premium to the value of its net crypto reserves, with an mNAV multiple of 1.14x. Each diluted share represents 0.001972 BTC. Investors accept this premium due to the company's unique debt model, the Digital Credit Stack, which involves issuing specialized bonds totaling $12.68 billion, with yields ranging from 9.00% to 13.63% annually.

Citigroup analysts have raised their price target for Strategy shares to $240, citing the company's effective balance sheet management. The exact size of the new purchase hinted at in Saylor's statement will be revealed in upcoming regulatory filings.