Saylor Hints at More Bitcoin Buys as Strategy Stock Volatile

Strategy (NASDAQ:MSTR) stock has been volatile over the past few days as Bitcoin's price dropped from $87,000 to $84,200. Michael Saylor hinted that the company made additional Bitcoin purchases last week, with 'even more orange' indicating new coin acquisitions.

The company typically reveals its Bitcoin buys every Monday, and in its statement last week, Strategy said it acquired 950 coins in the previous week. It now holds 846,000 BTC valued at over $71.5 billion, surpassing its cost basis of $63.8 billion.

Strategy's Bitcoin purchases have coincided with a recent surge in STRC, its preferred shares, which ended the week at $98.54, up from the year-to-date low of $69.26. Saylor and his team have used substantial resources to defend STRC, including raising billions through MSTR share sales.

The improved fundamentals and technicals for Bitcoin are also positive for Strategy. Spot Bitcoin ETF inflows have continued to soar, with over $2.7 billion in assets added this month alone. Additionally, Bitcoin's futures open interest and whale buying have been rising.