Strategy (formerly MicroStrategy) founder and chairman Michael Saylor published data on the company’s Bitcoin strategy with the concise comment: “More orange than ever.”
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Saylor’s wording directly refers to a recent chart from the StrategyTracker platform dated October 4, 2026, where the density of orange purchase markers reached an all-time high. Posts of this kind have traditionally preceded official filings with the U.S. Securities and Exchange Commission (SEC) on the completion of another round of large purchases.
What makes up the largest corporate Bitcoin portfolio in history
According to BitcoinTreasuriesNET analytics dashboard, Strategy has accumulated 847,666 BTC to date, or about 4.04% of Bitcoin’s total supply. With total historical spending of $63.95 billion, the portfolio’s average purchase price is $75,442.45 per coin.
At current market prices, the reserves are valued at $72.20 billion, putting the company’s unrealized net profit above $8.25 billion. Since the start of the year, the portfolio has grown by 26.05% (+175,169 BTC), with purchases made in late September at prices close to the portfolio’s average.
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Saylor’s claim that the balance is “more orange than ever” is also reflected in the stock market’s valuation. The company’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.
Wall Street accepts this premium because of the company’s distinctive debt model, the Digital Credit Stack. Strategy raises liquidity by issuing specialized bonds (tickers STRC, STRD, STRF, and STRK) totaling $12.68 billion, with fixed yields ranging from 9.00% to 13.63% annually.
Citigroup analysts previously raised their price target for MSTR shares to $240, citing the effectiveness of the company’s balance sheet management. The exact size of the new purchase hinted at in Saylor’s statement will become clear in the upcoming regulatory filings.
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