Saylor Teases Ninth Consecutive Bitcoin Purchase
Strategy may be gearing up for another major Bitcoin acquisition after executive chairman Michael Saylor posted “Send more Orange” on X on June 8. This cryptic phrase has become a familiar hint that a new BTC buy is imminent. If confirmed, it would mark the ninth straight week of Bitcoin accumulation by the company.
Just days before, Strategy acquired 705 BTC between May 26 and June 1, investing approximately $75 million at an average price of $106,495 per coin. This purchase pushed the firm’s total Bitcoin holdings to 580,955 BTC, now valued at roughly $61.4 billion.
Investment Returns and Unrealized Profits
According to public data, Strategy’s Bitcoin portfolio is performing remarkably well. The firm is up about 50% on its investment, reflecting an estimated $20.6 billion in unrealized profits. This performance reinforces Strategy’s long-term belief in Bitcoin as a superior store of value.
Strategy Launches $1 Billion Preferred Stock Offering
Coinciding with Saylor’s post, Strategy announced a major $1 billion stock offering, quadrupling its earlier plan to raise $250 million. The company intends to use the proceeds for further Bitcoin purchases and general corporate activities.
The offering consists of 11.76 million shares of 10.00% Series A Perpetual Stride Preferred Stock priced at $85 per share. After deducting underwriting fees and other expenses, the company expects to raise approximately $979 million.
Institutional-Friendly Yield Strategy
Unlike previous funding rounds, this offering includes non-cumulative 10% dividends, which are designed to appeal to institutional investors seeking yield. This new structure allows Strategy to maintain its aggressive Bitcoin buying approach while offering more predictable returns to shareholders.
Strategic Implications
With the latest capital injection and Saylor’s continued public advocacy, Strategy appears committed to deepening its position as the largest corporate holder of Bitcoin. The growing value of its holdings and consistent acquisition strategy signal strong confidence in Bitcoin’s long-term trajectory.
If current buying trends continue, Strategy’s BTC position may expand even further, potentially influencing broader institutional adoption of the digital asset.