Key Highlights
- Strategy’s founder Michael Saylor shared a bullish outlook for BTC as the crypto market recovers, saying there is room for more orange.
- According to Saylor, Bitcoin has bottomed out already, and now it is entering a new bull market.
- His statement comes ahead of Strategy being excluded from the MSCI index under new rules.
While Bitcoin (BTC) remains above $80,000, Michael Saylor, founder of Strategy, may be hinting at buying more Bitcoin (BTC). On October 18, he shared a post on X (formerly Twitter) with an orange dot chart, saying that “We found room for more orange.”
Michael Saylor Sounds Bullish, Says BTC is Likely to Reclaim $100,000
The statement comes after Strategy Inc. Executive Chairman Michael Saylor said Bitcoin has bottomed and is entering a new bull market, with the cryptocurrency set to climb back above $100,000. While speaking in a Bloomberg Television interview, Saylor mentioned improving regulation, growing bank adoption, and expanding digital credits as key supports.
“I think we hit the bottom around slightly below $60,000. I think we bounced off it. Now we’re moving up into the eighties. I think we’ll continue to march forward from here,” he said.
Michael Saylor added, “I think that it should definitely move back into the six figures, back beyond $100,000. And our long-term forecast is Bitcoin grows 20 to 30% a year over the next twenty years. So, clearly, the last twelve months have been a contraction.”
Saylor cited the past year’s weakness in part to restrictive monetary, trade, and currency policies. He said clearer rules and greater involvement by banks are helping shift conditions. Digital credit systems and tokenized finance are also supporting demand, in his view. He framed Bitcoin as digital capital and noted that since Strategy’s first purchase in August 2020, Bitcoin has risen approximately 38% annually, while Strategy shares have returned about 52% to 53% a year.
Saylor affirmed that Strategy is mainly focused on accumulating Bitcoin rather than short-term trading. In a bull market environment, he expects the company to continue buying the asset and to issue more credit instruments to fund further purchases.
Strategy’s Recent Bitcoin Purchases and Holdings
Strategy is the largest corporate holder of Bitcoin. The company disclosed its latest purchase on October 12. Between October 5 and October 11, the company acquired 250 Bitcoin for approximately $21.5 million at an average price of $86,194 per coin, including fees. The company was funded mainly by net proceeds of about $21 million from the sale of 125,183 shares of Class A common stock under its at-the-market program, along with a small amount of cash.
This purchase lifted Strategy’s total holdings to 848,250 Bitcoin. The company has spent approximately $64 billion in aggregate to build the position, for an average cost of about $75,444 per Bitcoin. With Bitcoin prices hovering near $82,000, the holdings are valued at around $70 billion and represent more than 4% of Bitcoin’s fixed 21 million supply.
The 250-Bitcoin addition was Strategy’s smallest purchase of 2026. It comes after a 334-Bitcoin buy earlier in October. Strategy has continued selective accumulation while also managing its capital structure, including repurchases of its STRC preferred shares. As of mid-October, the company reported a USD Reserve of about $4.88 billion and additional cash balances.
Earlier this month, Fidelity said that it is early to call the bear market over, suggesting November 2026 will be the next testing period for a structural cycle.
Strategy faces potential exclusion from MSCI global equity indexes under new rules for non-operating companies that take effect after the close of November 30. MSCI is scheduled to publish a final list of affected companies on November 11. Analysts have estimated that removal could prompt several billion dollars in passive fund selling. Strategy has described such proposals as misguided and argued they would not meaningfully affect its core business.
The company continues to operate as a Bitcoin treasury firm while also maintaining software operations. It has used a mix of common equity issuance, preferred securities, and cash to fund Bitcoin purchases and manage liabilities, including preferred dividends.
