Strategy executive chairman Michael Saylor brought renewed focus to the firm’s Bitcoin position on January 11 after an X post highlighted its exposure. The post showed Strategy holding a Bitcoin portfolio valued at $61.25 billion.
Saylor Hint Fuels Bitcoin Speculation
Saylor posted the phrase “Big Orange” on X post, a term he tends to use with regard to recent Bitcoin tracking activity. The announcement was short, but it ignited rumors in the market. Similar messages have been seen before Strategy’s disclosures of having bought BTC.
Per previous precedent, Strategy has usually updated his BTC holdings figures the day after posting the same kind of post. That trend has made Saylor’s pithy posts a critical signal for traders monitoring Strategy’s buying.
As reported by CoinGape, Strategy purchased 1,286 BTC on January 5. The company put $116 million into that purchase, and its average entry price was $88,568 per Bitcoin. According to the report, Strategy also purchased 3 BTC from December 29 to 31 at an average price of $88,210 per Bitcoin.
Strategy then bought 1,283 BTC between January 1 and 4 for $116 million. The average price for that batch was $90,391 per Bitcoin. These purchases extended Strategy’s accumulation streak into early January.
Strategy’s BTC Holdings and Key Price Levels
The strategy now holds 673,783 BTC acquired for a total of $50.55 billion. The firm said that its average cost base for BTC is $75,026. The company was 83 percent invested in its Bitcoin strategy as of July 21, after it funded that portion by selling almost two million shares of MSTR for net proceeds of $312.2 million.
As CoinGape reported earlier, MSCI abandoned plans which would have overhauled rules for index eligibility. That move removed a big overhang associated with Strategy’s shares, an uncertainty regarding possible index-related consequences.
However, In an X post, anlayst Ted highlighted that BTC is consolidating around the $90,500 to $91,000 area and it appears to be putting the brakes on its recent moves.
Ted noted that there is also the risk of a downside compared to the level of $88,000-$88,500. He pointed to this region as a structural level, as it confluences with a CME gap that traders closely watch. As BTC remains between its levels of resistance and support, he argued the direction would likely be determined by the next break.
He also pointed to rising geopolitical tension, noting that the escalating US-Iran situation could influence risk sentiment. Traders are paying attention to whether volatility picks up, or if Bitcoin maintains its range despite outside pressure.
