Saylor hints at impending BTC purchase after latest capital raise

Strategy co-founder Michael Saylor hinted at an impending Bitcoin (BTC) purchase after the company raised additional capital this week through its latest preferred stock offering.

The executive shared a Sunday Bitcoin chart on X, hinting at another BTC purchase the following day — when traditional financial markets reopen — alongside the playful caption, “needs more orange.”

According to SaylorTracker, the company’s most recent BTC acquisition occurred on March 17, when Strategy purchased 130 BTC, valued at $10.7 million, bringing its total holdings to 499,226 BTC.

Strategy’s March 17 BTC acquisition represents one of its smallest purchases on record and came after a two-week break in buying.

On March 21, the company announced the pricing of its latest tranche of preferred stock. The preferred stock was sold at $85 per share and featured a 10% coupon. According to Strategy, the offering should bring the company approximately $711 million in revenue.

Michael Saylor continues evangelizing for the Bitcoin network, inspiring dozens of publicly traded companies to adopt BTC as a treasury asset and petitioning the US government to buy more of the scarce digital commodity.

Related: Michael Saylor’s Strategy to raise up to $21B to purchase more Bitcoin

Saylor pushes for the US government to purchase 25% of BTC’s total supply

Saylor wrote that the US government should acquire 25% of Bitcoin’s total supply by 2035 — when 99% of the total BTC supply has been mined.

The executive also petitioned for the US government to adopt a comprehensive framework for all digital assets in a proposal titled, A Digital Assets Strategy to Dominate the 21st Century Global Economy.

Speaking at the recent Blockworks Digital Asset Summit, the Strategy co-founder presented his 21 Truths of Bitcoin speech. The executive told the audience:

“Gold still underperforms the S&P Index by a factor of two or more, so there is only one commodity in the history of the human race that was not a garbage investment — the one commodity is Bitcoin — a digital commodity.”

Despite the recent market downturn, Strategy is still up over 28% on its BTC investment and is sitting on over $9.3 billion in unrealized gains.

Magazine: ‘China’s MicroStrategy’ Meitu sells all its Bitcoin and Ethereum: Asia Express