- Michael Saylor shared a new Bitcoin Tracker update, hinting at another buy.
- Strategy holds about 660,000 BTC with an average buy price near $74,702.
- Saylor’s firm was able to retain its position in the Nasdaq 100.
Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor has once again ignited speculation of an imminent Bitcoin buy, posting a cryptic “Back to More Orange Dots” update to X on Sunday.
The post, which displayed the company’s Bitcoin Tracker, is widely interpreted by algos and traders as a pre-announcement of a completed accumulation event. The chart also shows Strategy holding roughly 660,000 BTC with a portfolio value close to $59 billion.
The average purchase price stands near $74,702, with 88 confirmed buying events listed on the tracker.
Related: Saylor ‘Walks the Walk’ on Bitcoin-Backed Banking Pitch; Treasury Swells to 660,624 BTC
Fresh Buying from Strategy?
Saylor captioned the post with “Back to Orange Dots?”, a phrase widely associated with new Bitcoin purchases by Strategy.
In past cases, similar posts were followed by official announcements confirming fresh accumulation, often at the start of the week. Strategy’s most recent disclosed purchase was 130 BTC.
Also, beyond Strategy, data from BitcoinTreasuries.NET shows the top 100 public companies now hold a combined 1,073,365 BTC.
ABTC added 363 BTC, the largest increase among public firms this week. Cango Inc. also expanded its holdings with a 130.6 BTC purchase. Other companies include Bitdeer, BitFuFu, Hyperscale Data, Genius Group, and Bitcoin Hodl Co.
The steady additions indicate that some corporations remain committed to building Bitcoin reserves even as prices struggle.
Strategy Stays in Nasdaq 100 Amid Scrutiny
Strategy secured its position in the Nasdaq 100, surviving the annual index reshuffle that removed several well-known companies. The firm was added to the index last December.
Originally a business software company, Strategy shifted its core focus in 2020 toward Bitcoin accumulation. Since then, it has become the biggest corporate holder of BTC across the globe.
The firm’s rapid BTC purchases have drawn criticism from some analysts and index providers, who argue it functions more like a Bitcoin investment vehicle than a traditional operating business.
MSCI has raised concerns about crypto treasury companies and is expected to issue a decision in January on whether such firms should remain in its benchmarks. Strategy has pushed back against this view, and claimed that it is an operating company rather than a holding fund.
On the other hand, Short-Term Holder Net Unrealized Profit and Loss has dropped below zero. As per analysts, the NUPL is lowest since October 2023. This means many recent buyers now hold Bitcoin at a loss.
Related: Michael Saylor Bets On Bitcoin-Backed Credit After Strategy’s Biggest BTC Buy Of 2025
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