On October 4, Michael Saylor published Strategy's Bitcoin accumulation chart with the remark "More orange than ever," a sign that usually precedes the company's official purchase announcements and inspires conjecture of yet another buy. If a purchase is approved, it would be added to Strategy's most recently reported acquisition of 1,665 BTC for US$142.7 million at an average price of around US$85,681 per coin (purchased between September 21 and 27), so bringing total holdings to 847,666 BTC acquired for about US$63.95 billion at an average cost near US$75,437.
The post is a teaser, however, not an announcement. Saylor gave no quantity, no purchase dates, no average price, and no proof that fresh coins were really acquired; hence the market is following an orange chart instead of a balance sheet. Strategy's following SEC filing or corporate statement, the ceremony following these enigmatic postings, will provide the true confirmation.
The hint is important for Bitcoin sentiment: Strategy is still the biggest business Bitcoin owner and a major institutional demand support; therefore, even the hint of another buy might boost optimistic attitude. Traders should separate Saylor's promotional material from actual filings; if no buy appears, the buzz created by the post may vanish as fast as it showed up.
