Michael Saylor, a prominent figure in the cryptocurrency realm, has recently signaled new activity regarding Bitcoin acquisitions. In his latest update on social media concerning Bitcoin, the founder of Strategy remarked that the “Orange March continues,” suggesting that their strategy for accumulating Bitcoin remains active.
The orange dots featured in Saylor’s charts have traditionally indicated direct purchases of Bitcoin. Consequently, this announcement was interpreted by market participants as a precursor to further acquisitions. Analyzing Strategy’s past actions reveals that they often make formal announcements about purchases a day after completing them. This pattern bolsters expectations that an official purchase announcement may follow shortly after this recent post.
Current data indicates that Strategy possesses a total of 761,068 $BTC. The overall expenditure for these assets amounts to around $57.61 billion, with an average acquisition cost estimated at $75,696. Given the present market conditions, this portfolio is valued at approximately $52.3 billion; thus, the company faces an unrealized loss nearing 9% relative to its average purchase price.
An examination of transactions throughout March highlights Strategy’s continued aggressive accumulation approach. Notably, on March 16th alone, they acquired 22,337 $BTC, followed by purchases of 17,994 $BTC on March 9th and another batch of 3,015 $BTC on March 2nd.
*This content does not constitute investment advice.