Michael Saylor Hints at New Bitcoin Buy as Strategy Holds 848,517 BTC

Michael Saylor, Executive Chairman of Strategy Inc., has hinted that the company may announce another Bitcoin purchase this week. In a post on X on Sunday, November 1, 2026, Saylor wrote, “We found room for even more orange.” He attached a chart showing the company’s holdings of 848,517 BTC.

Saylor often posts about “orange” on a Sunday, and Strategy has often followed with a weekly disclosure to the U.S. Securities and Exchange Commission (SEC) the next day. Strategy was formerly known as MicroStrategy, and its shares trade on Nasdaq under the ticker MSTR. It reports its Bitcoin activity through a Form 8-K, which is the filing U.S. public companies use to tell shareholders about material events.

What Saylor’s Chart Shows

The chart shared by Saylor on November 1 lists Strategy’s holdings at 848,517 BTC across 119 purchase events. The average purchase price is $75,446 per coin, including fees and expenses, and the chart values the holdings at about $66.00 billion.

The post does not confirm a new transaction. Any Bitcoin bought between October 26 and November 1 would appear in the company’s next Form 8-K, which is expected on Monday, November 2.

Saylor used almost the same wording in a post on October 18, when he wrote “We found room for more orange.” The next day, Strategy disclosed a 267 BTC purchase.

Strategy Paused Bitcoin Buying Last Week

According to Strategy’s Form 8-K dated October 26, 2026, the company did not buy or sell any Bitcoin from October 19 to October 25. It also sold no shares through its at-the-market (ATM) offering program, which lets a company sell new shares into the open market over time at current prices.

As of October 25, Strategy held approximately 848,517 BTC, bought for a total of $64.02 billion at an average of about $75,446 per coin. That is roughly 4.04% of Bitcoin’s fixed maximum supply of 21 million coins.

That week, Strategy spent $204.9 million of USD Cash buying back its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). STRC is a preferred share with no maturity date that pays a variable-rate dividend. The same filing put the company’s USD Reserve at $4.83 billion and its USD Cash at $242.4 million. 

The USD Reserve is money the company holds to cover preferred dividends and interest payments. USD Cash is a separate balance that can be used to buy Bitcoin, add to the reserve, or for other capital management purposes. Crypto Times covered the pause in Strategy’s Bitcoin purchases when it was disclosed.

October Purchases Were Small

Strategy bought Bitcoin in three of the four weeks covered by its October filings, but each purchase was small:

• October 1 to October 4: 334 BTC for $28.7 million, at an average of $85,838.8 per coin.
• October 5 to October 11: 250 BTC, mostly funded by MSTR share sales, which brought holdings to 848,250 BTC.
• October 12 to October 18: 267 BTC for $22.1 million, at an average of $82,900 per coin.
• October 19 to October 25: No purchases.

Together, that is 851 BTC across the four filings. In comparison, Strategy bought 4,603 BTC in the single week from August 24 to August 30, 2026.

Over the same period, the company put more money into buying back its preferred stock. Crypto Times reported that Strategy bought back about $192 million of STRC in the week to October 11 and about $193 million in the week to October 18. In its October 19 filing, Strategy said its board had raised the limit on its digital credit securities repurchase program from $2.0 billion to $3.0 billion.

Analysis: Funding and Yield in Focus

Strategy’s third-quarter supplementary materials, filed with the SEC on October 29, show that it is raising much less money through share sales. The ATM program brought in net proceeds of about $5.41 billion in the three months to September 30, 2026, but only about $58.7 million from October 1 to October 23.

The same materials put Strategy’s BTC Yield at negative 3.7% for 2026 as of October 25. BTC Yield is a metric the company created to track the percentage change in its Bitcoin holdings per assumed diluted share. Strategy also said it had sold about $431.8 million of Bitcoin so far in 2026 to help pay preferred stock dividends and STRC buybacks.

At a Bitcoin price of $81,200 on October 23, the company valued its holdings at $68.90 billion. The roughly $66.00 billion value on Saylor’s November 1 chart implies a Bitcoin price near $77,800. At that price, the holdings are worth less than $2 billion more than their $64.02 billion cost.

Monday’s filing will show whether Saylor’s latest post turns into a purchase. Investors will also be looking at how any purchase was paid for: through MSTR share sales, USD Cash, or another source. The filing will also show whether Strategy kept buying back STRC.

Also Read: Bitwise Raises 2036 Bitcoin Target to $1.6M on Demand Outlook