In a recent update, Michael Saylor hinted at another potential major Bitcoin acquisition by his company, Strategy, formerly known as MicroStrategy. On social media platform X, Saylor shared a chart illustrating the company’s impressive Bitcoin reserve, which currently totals approximately 640,250 BTC, valued at around $69 billion based on recent market prices. Accompanying the chart was a cryptic message: “The most important orange dot is always the next,” which has fueled speculation about a forthcoming purchase.
This latest development comes against a backdrop of challenges facing corporate Bitcoin treasuries. A report from 10x Research has highlighted that many firms holding Bitcoin have experienced a significant decline in their net asset values, leading to the erasure of billions in paper gains. Analysts have noted that companies that once traded at premiums relative to their Bitcoin holdings are now being valued at levels below the actual worth of their reserves.
Among the corporate giants, Strategy’s Bitcoin holdings stand out, comprising nearly 2.5% of the total Bitcoin supply, significantly leading over its nearest competitor, Marathon Digital, which holds 53,250 BTC. Other notable holders include XXI (CEP) with 43,514 BTC and Japan’s Metaplanet with 30,823 BTC, while the combined holdings of the top 15 corporate stakeholders exceed 900,000 BTC.
Despite the downturn in the market, evidenced by Metaplanet recently falling below a 1.0 market-to-net asset value ratio — indicating that the company is valued at less than the Bitcoins it owns — Saylor appears unperturbed. His enigmatic comment about the next “orange dot” suggests that Strategy may soon augment its already substantial Bitcoin position, adhering to its historical trend of strategic accumulation in the face of market fluctuations.
