- Michael Saylor posted Strategy’s Bitcoin acquisition chart on X on Sunday, captioned “Orange dots tell only part of the story.”
- The post came six days after Strategy disclosed the sale of 3,588 BTC for about US$216 million (AU$311 million), the largest in its history, to fund preferred-stock dividends.
- Strategy held 843,775 BTC and US$2.55 billion (AU$3.67 billion) in cash as of July 5, and no new transaction had been disclosed as of Sunday.
Michael Saylor posted Strategy’s Bitcoin tracker chart on X on Sunday with the caption “Orange dots tell only part of the story,” six days after the company disclosed its largest-ever Bitcoin sale, and traders again read the post as a possible signal of a coming purchase.
The chart marks each of Strategy’s past BTC purchases as an orange dot. Saylor has typically posted it on Sundays ahead of the company’s Monday disclosures, and for years, traders treated the posts as reliable buy signals.
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Strategy disclosed in a July 6 filing with the US Securities and Exchange Commission that it sold 3,588 BTC for about US$216 million (AU$311 million) between June 29 and July 5, the largest Bitcoin sale in the company’s history.
The sale ran in two tranches: 1,363 BTC at an average of US$59,256 (AU$85,329) on June 29 and 30, then 2,225 BTC at an average of US$60,773 (AU$87,513) between July 1 and 5.
Proceeds funded distributions on the company’s preferred stock, including its STRF, STRE, STRK, STRD and STRC securities. Saylor had said for years that Strategy would never sell, telling audiences, “You do not sell your Bitcoin.” The July 6 filing was the first time the company drew on its Bitcoin holdings to pay those dividends.
After the sale, Strategy held 843,775 BTC and US$2.55 billion (AU$3.67 billion) in cash as of July 5, and it remains the world’s largest corporate Bitcoin holder. The company’s average acquisition cost sits at about US$75,500 (AU$108,700) per coin, according to figures drawn from its filing history.
No Purchase Confirmed
Strategy had not disclosed any Bitcoin transactions for the week ending July 12 as of Sunday’s post. The company’s practice has been to file purchase or sale disclosures with the SEC at the start of the week.
Crypto News Australia has covered that pattern before. Saylor teased another buy while the company’s paper losses topped US$13 billion (AU$18.7 billion), and his earlier comments that Strategy could sell Bitcoin to fund dividends set off a debate over the firm’s treasury model months before the July sale.
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