Thomas Daniels
“Send more Orange,” Strategy’s executive chairman Michael Saylor posted on X on June 8, accompanied by a chart detailing the firm’s escalating Bitcoin reserves. Historically, Saylor’s cryptic messages have often preceded significant Bitcoin acquisitions. If this pattern holds, the firm may soon announce its ninth consecutive weekly BTC purchase.
Between May 26 and June 1, Strategy acquired 705 BTC for approximately $75.1 million, at an average price of $106,495 per coin. This brings the company’s total Bitcoin holdings to 580,955 BTC, with an estimated market value of $61.4 billion. The firm currently stands at approximately $20.6 billion in unrealized profit—representing a ~50% gain on its Bitcoin investments.
This latest signal follows the company’s announcement of a $1 billion preferred stock offering. Strategy plans to issue 11.76 million shares of its 10% Series A Perpetual Preferred Stock, priced at $85 per share, with net proceeds expected to be around $979 million after underwriting and related expenses.
The preferred shares come with a 10% non-cumulative dividend, designed to appeal to institutional investors seeking consistent yield without traditional equity exposure. This strategic move underscores the company’s commitment to funding continued Bitcoin accumulation via capital market instruments rather than relying solely on internal cash flow.
With its current holdings, Strategy has solidified its position as the largest known corporate holder of Bitcoin, surpassing the combined reserves of nation-states like the United States and China. It holds nearly 12 times more BTC than the next largest corporate holder, Bitcoin miner Mara Holdings. For many investors, Strategy functions as a corporate proxy for direct Bitcoin exposure.
