While market analysts argue about the death of the Bitcoin rally, Michael Saylor has just posted his latest battle cry on X, declaring that the “orange march” continues. And quite possibly these are not just words, as behind them may stand another billion-dollar purchase from the largest corporate holder of Bitcoin in the world.
Despite the fact that the company is sitting on an unrealized loss of more than $5.28 billion, which is about a 9.12% drawdown on their portfolio, Saylor seems to be celebrating with another giant orange dot likely to appear on the chart, pushing Strategy’s reserves above 761,000-768,000 BTC.
Why “orange march” continues
Usually such Saylor posts are a teaser before an official report to the SEC. Already tomorrow morning we may learn that the 104th purchase has been made. Whether it will become the largest one is a big question.
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Since the introduction of STRC, Strategy has noticeably increased its Bitcoin purchases. On March 2, it was announced that 3,015 BTC had been bought. On March 9, this figure jumped to 17,994. And on March 16, last Monday, the company announced the purchase of 22,337 Bitcoins.
It is obvious that Saylor buys when others are afraid, and his “orange march” is a signal to all of Wall Street. The current price of Bitcoin is around $69,000, and in his view, this is only a temporary pause in the grand scheme of things.
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In March, the company for the first time presented a massive new financial instrument — perpetual preferred shares Stretch under the ticker STRC. In fact, Saylor has figured out how to endlessly borrow money from the market and put it into “digital gold.”
The market is buzzing. At this pace, the Strategy march could collect 1 million Bitcoins by the end of this year. That would be almost 5% of the total supply in the hands of a single company.