‘More Orange Than Ever’: Michael Saylor Hints at Massive New Bitcoin Buy
Strategy (formerly MicroStrategy) founder and chairman Michael Saylor published data on the company’s Bitcoin strategy with the concise comment: “More orange than ever.”
Michael Saylor’s “More orange than ever” post on X, Source: Michael Saylor via X.com
Saylor’s wording directly refers to a recent chart from the StrategyTracker platform dated October 4, 2026, where the density of orange purchase markers reached an all-time high. Posts of this kind have traditionally preceded official filings with the U.S. Securities and Exchange Commission (SEC) on the completion of another round of large purchases.
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What makes up the largest corporate Bitcoin portfolio in history
According to BitcoinTreasuriesNET analytics dashboard, Strategy has accumulated 847,666 $BTC to date, or about 4.04% of Bitcoin’s total supply. With total historical spending of $63.95 billion, the portfolio’s average purchase price is $75,442.45 per coin.
At current market prices, the reserves are valued at $72.20 billion, putting the company’s unrealized net profit above $8.25 billion. Since the start of the year, the portfolio has grown by 26.05% (+175,169 $BTC), with purchases made in late September at prices close to the portfolio’s average.
Strategy’s Bitcoin accumulation chart showing 847,666 $BTC holdings as of October 4, 2026, Source: StrategyTracker
Saylor’s claim that the balance is “more orange than ever” is also reflected in the stock market’s valuation. The company’s shares currently trade at a 14% premium to the value of its net crypto reserves, with an mNAV multiple of 1.14x. Each diluted share represents 0.001972 $BTC.
Wall Street accepts this premium because of the company’s distinctive debt model, the Digital Credit Stack. Strategy raises liquidity by issuing specialized bonds (tickers STRC, STRD, STRF, and STRK) totaling $12.68 billion, with fixed yields ranging from 9.00% to 13.63% annually.
Citigroup analysts previously raised their price target for MSTR shares to $240, citing the effectiveness of the company’s balance sheet management. The exact size of the new purchase hinted at in Saylor’s statement will become clear in the upcoming regulatory filings.
