Michael Saylor Hints at New MicroStrategy Bitcoin Purchases Amid Dead Cat Bounce Debate

MicroStrategy has not bought Bitcoin (BTC) in two weeks, its most recent regulatory filing shows. In his latest post, however, Executive Chairman Michael Saylor has investors betting the company may have broke that pause last week.

Saylor wrote “A little more orange” above a chart of the firm’s holdings. He has used that format before purchase disclosures. MicroStrategy reports any Bitcoin buying every Monday.

Strategy’s Bitcoin Holdings Have Not Moved Since August

The company told the US Securities and Exchange Commission (SEC) on September 14 that it neither bought nor sold Bitcoin between September 8 and September 13. Its filing a week earlier reported the same for the previous seven days.

Strategy held roughly 845,050 BTC as of September 13. It paid $63.73 billion for that stack, an average of $75,412 per coin.

Its last purchase was 4,603 BTC for $369.7 million, disclosed on August 31. That deal ended a 10-week pause. BeInCrypto called the restart the day before it was announced, after a similar Saylor teaser.

Cash is the constraint. Strategy spent $139.3 million buying back preferred shares in the week to September 13 rather than buying Bitcoin. That left $1.30 billion in the account it uses for purchases. The firm has also sold Bitcoin to support that share price this year.