MSTR in Focus as Michael Saylor Hints at Fresh Bitcoin Purchase

Strategy (NASDAQ:MSTR) stock has wavered over the past few days as Bitcoin (CRYPTO: BTC) loses momentum. After soaring to $170.80 last week, the stock closed at $158, with BTC falling from over $87,000 to $84,200. 

Michael Saylor is Hinting at More Bitcoin Purchases

Billionaire Michael Saylor has hinted that Strategy made some more Bitcoin purchases last week. In an X post, he said "even more orange", a sign that the company continued to use its cash to buy more coins.

Strategy normally reveals its Bitcoin purchases every Monday. In its statement last Monday, the company said that it had acquired 950 coins in the previous week. It now holds 846,000 coins valued at over $71.5 billion, much higher than its cost basis of $63.8 billion. 

Strategy’s Bitcoin purchases have coincided with the recent recovery of its preferred shares. STRC, its most prominent names, ended the week at $98.54, up sharply from the year-to-date low of $69.26. 

Saylor and the team have used substantial resources to defend STRC. He has raised billions of dollars from MSTR share sales, which has provided the company with adequate liquidity to cover dividends in the next three years. Last week, he proposed paying its dividends daily.