TLDR
- Michael Saylor posted “There’s always room for more orange” on X on Oct. 11, a hint at another Bitcoin purchase.
- Strategy bought 334 BTC for $28.7 million between Sept. 28 and Oct. 4, lifting holdings to 848,000 BTC.
- The company also repurchased about 1.77 million STRC preferred shares for $176.3 million.
- Strategy raised $5.41 billion from new common stock in Q3, but only 9.5% was allocated to Bitcoin purchases.
- No SEC filing is likely before Tuesday because of the Columbus Day holiday.
Strategy (MSTR) investors will have to wait a little longer to learn whether the company added to its Bitcoin treasury last week. Executive Chairman Michael Saylor posted “There’s always room for more orange” on X on Sunday, Oct. 11.
Federal offices are closed Monday for Columbus Day. That means an official 8-K filing is unlikely to arrive before Tuesday.
The post came with a chart showing 848,000 BTC valued at $70.48 billion. The chart lists 117 purchase events and an average cost of about $75,441 per coin.
The balance matches the company’s disclosed holdings as of Oct. 4. The dollar value moves with Bitcoin’s price, so it can change without any new buying.
A Pattern of Sunday Hints
Saylor has used this kind of post before. On Oct. 4 he wrote “More orange than ever,” with a chart showing 847,666 BTC.
There’s always room for more orange. pic.twitter.com/hndZf0Acp7
— Michael Saylor (@saylor) October 11, 2026
The next morning, Strategy reported a 334 BTC purchase. That brought its total to 848,000 coins.
September followed a similar path. A hint on Sept. 27 came after a 950 BTC purchase disclosed Sept. 21. Strategy then reported another 1,665 BTC bought in the week ended Sept. 27.
The latest purchase cost $28.7 million, including fees. Its average price was about $85,839 per coin, above the company’s average cost across all holdings.
How the Latest Buy Was Funded
Of the $28.7 million, $15.7 million came from MSTR stock sales. The other $13 million came from the company’s cash balance. Total acquisition cost now stands at about $63.97 billion.
Strategy also spent heavily on its preferred stock. It bought back about 1.77 million STRC shares for $176.3 million over the same week. That is more than six times its weekly Bitcoin buying budget.
Some observers read this as a sign management is building cash to spend on Bitcoin later. Independent analyst Shanaka Anslem Perera noted that Strategy raised $5.41 billion from new common stock in the third quarter. It ended the period with 1,666 more BTC than it held at the end of June.
Perera said the company’s SEC filings allocate 9.5% of the raise directly to Bitcoin. Other uses included a dollar reserve, cash, dividends and preferred stock buybacks.
“Raising capital does not necessarily mean buying bitcoin,” he told Cointelegraph on Sunday.
He added that retained cash can fund later purchases. He also noted that debt and preferred shares have claims ahead of common stock.
Strategy holds a $4.88 billion reserve to cover preferred dividends and debt interest. It also has another $833.4 million in cash for general corporate purposes. That pool can be used for Bitcoin purchases and capital management.
The next 8-K, expected Tuesday, will show whether Saylor’s latest post matched a new purchase.
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