Saylor Signals More Bitcoin (BTC) Buying at $70.48 Billion Treasury Milestone

Saylor’s 117-Dot Treasury Chart

Strategy’s stated model is continuous accumulation of Bitcoin (BTC), and the company framed its latest signal around exactly that commitment ahead of the new trading week. Chairman Michael Saylor published an updated treasury chart on October 11 marking 117 purchase points, captioned with the line he has used before: “There’s always room for more orange,” shared in his October 11 post. The chart is the format Saylor uses in most weeks to show the treasury’s state before markets reopen, and previous editions have often preceded purchase announcements. This one carried no fresh quantity itself, but by the company’s own figures it reaffirmed the standing program: Strategy controls 848,000 BTC valued at $70.48 billion, roughly 4.04% of Bitcoin’s total supply. The Nasdaq-listed firm (MSTR) holds the largest corporate stash in the market, a crypto whale whose weekly disclosure functions as a demand gauge for the broader Bitcoin market. The Bitcoin (BTC) price sits near $83,700, up about 0.9% over 24 hours, which leaves the treasury roughly $8,200 per coin above its average cost basis of $75,436. The company’s disclosure places mNAV Basic, a net-asset-value multiple, at 0.92x, so the market values Strategy’s assets at a modest discount even with the portfolio in profit. In effect the firm operates a corporate strategic Bitcoin reserve, and the chart and caption together reaffirm rather than amend that posture: preparation for another purchase week is in place, financing has been reviewed, and the intent is unchanged.

@saylor · X post

His October 11 post.

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STRC Slips Below Par

Details behind the chart explain the missing quantity. During the week of October 5 to 9, STRC, the preferred stock Strategy has used as its main fundraising instrument, slipped below its $100 par value and traded between $99.43 and $99.66. Par value acts as the trigger line in the company’s internal rules. When the security falls under par, issuance of new shares for coin purchases is blocked and the firm must instead direct cash into buying back its own discounted securities to support the price, a mechanism the disclosure labels the buyback zone. The channel’s purchase total for that week came to exactly 0.00 Bitcoin (BTC), so the pause is mechanical, rooted in the instrument’s limits rather than any cooling of the buying appetite. If STRC recovers its par line, the issuance channel reopens on the same terms, and nothing in the company’s communication suggests a change to the rules themselves. Meanwhile the wider funding stack kept working. Strategy’s financing structure spans credit lines and several securities classes totaling $12.69 billion, so liquidity does not depend on a single instrument. STRF, a separate preferred class, held firmly above par at $103.98 and served as an active liquidity source. The most recent targeted purchase, 334 BTC at $85,838 per coin, drew on those non-STRC channels and demonstrated that the treasury can fund acquisitions while its primary instrument sits in the buyback zone. Saylor’s chart posts have historically preceded weekly purchase announcements, and whether the next one shows a resumed STRC channel depends on where the security trades when markets open Monday.

Mechanics, not appetite, stalled the buying, and the market backdrop keeps the program’s footing intact. Our live monitoring shows Bitcoin (BTC) at $83,688, a 0.85% gain over 24 hours, in an uptrend with the relative-strength index near 54. Composite scoring puts the strongest support at $81,690, marked 87/100, with resistance at $84,216 scored 90/100, the level a fresh purchase announcement would need to clear. Positioning stays constructive: perpetual funding runs at 0.0033% against $15.5 billion in open interest, and account positioning leans long at a 1.47 ratio, in what remains a bull market by trend measures. A weekend retest of the $82,800 area preceded the post, and our technical analysis of Bitcoin frames the current move as consolidation under $84,200 rather than reversal. On the commitment itself, the standing is unchanged: Strategy maintains its accumulation program, its alternative funding channels are operational, and its posture remains a straight HODL while it prepares the next purchase wave.