Michael Saylor, chairman of Strategy, hinted at potential Bitcoin purchases ahead, posting on X with the message "There’s always room for more orange." While investors may interpret this as a signal, any formal disclosure through an SEC filing is unlikely before Tuesday due to the Columbus Day holiday on Monday.
Strategy concluded September with significant Bitcoin and stock repurchases. Between Sept. 28 and Oct. 4, the company acquired 334 Bitcoin (BTC) for $28.7 million, increasing its total holdings to 848,000 BTC. Simultaneously, Strategy repurchased approximately 1.77 million shares of its STRC preferred stock for $176.3 million.
Analyst Shanaka Anslem Perera noted that Strategy raised $5.41 billion in new common shares during the third quarter, ending the period with 1,666 more BTC than it held at the end of June. According to Perera, 9.5% of the capital raise was allocated to Bitcoin purchases, with other funds directed toward cash reserves, dividends, and preferred-share buybacks.
Perera emphasized that raising capital does not necessarily mean immediate Bitcoin purchases. He suggested that the retained cash could fund future BTC acquisitions, potentially benefiting shareholders by strengthening the company’s balance sheet.