Strategy has increased its bitcoin holdings to 848,250 coins, and the company’s leader Michael Saylor (마이클 세일러) has hinted at the possibility of additional purchases.

On Oct. 18, blockchain media outlet U.Today reported that Saylor posted on social media, saying, "We found room for more orange," and released a new purchase chart along with the message.

As of mid-October, Strategy holds 4.04% of the total global bitcoin supply. The market value of the bitcoin the company has accumulated is $69.45 billion, and its average purchase price is $75,444 per coin. As a result, the unrealised return on valuation is 8.15%, and the portfolio growth rate since the start of the year stands at 26.1%.

Actual purchase momentum has slowed sharply. Strategy bought an additional 250 BTC in the latest reporting week. That was worth about $21.5 million, the smallest direct purchase amount on an annual basis.

The market is seeing analysis that the shift was largely driven by a change in funding priorities. Strategy spent $192.4 million to buy back STRC preferred shares in its capital allocation process. As the yield on those preferred shares rose to 12.31%, management judged it more urgent to reduce future dividend 부담 than to buy additional bitcoin at this time.

The company is also maintaining $5.5 billion in safety funds in dollar-based products to ensure operational stability. Despite messaging about buying more bitcoin aggressively, actual spending is being adjusted in a direction that considers liquidity management and debt 부담 at the same time.

A change in MSCI standards has also emerged as a burden. Strategy faces the possibility of being excluded from a global investment benchmark as the balance-sheet value of its bitcoin has completely overtaken its core software business. MSCI’s official decision is scheduled for Nov. 11, 2026.

JPMorgan estimated that $2.8 billion in passive funds could flow out of MSTR shares. The impact briefly pushed Strategy shares down 9.56% to $136.83 last week, and the base MNAV multiple fell to 0.83 times.

Saylor has signalled his willingness to buy more, but Strategy’s pace of bitcoin accumulation has entered a phase that is difficult to explain for now solely through expansion in scale. The company still retains its position as the largest corporate bitcoin holder, but its capacity for further purchases is expected to be directly affected by debt 부담 and MSCI-related risks in November.

We found room for more orange. https://t.co/XAgiEZbXgO