Michael Saylor signaled that new buying opportunities may arise after the recent drop in Bitcoin price.
Head of Strategy Michael Saylor signaled that new purchases may be on the agenda after the recent drop in Bitcoin price.
After Bitcoin fell to $87,600 on Sunday evening, reaching its lowest level in two weeks, Saylor pointed to further buying of Bitcoin with a message on platform X: "more orange dots are appearing again."
This type of message is known as messages that Saylor has used in the past before large purchases.
The strategy made its largest single purchase of Bitcoin since the end of July on December 12, buying 10,624 BTC. The company’s total Bitcoin holdings have now reached 660,624 BTC.
At current prices, this amount is worth approximately $58.5 billion. The average purchase price of Bitcoin for the Strategy is reported to be $74,696. This size makes the company one of the largest institutional investors in Bitcoin in the world.
Recent selling pressure in the market is reportedly influenced by global macroeconomic events. Some analysts point out that expectations regarding the Bank of Japan's (BoJ) interest rate policy are particularly putting pressure on risk assets. The Polymarket forecasting platform estimates the probability of a 0.25% rate hike by the BoJ this Friday at 98%.
Justin Danetane, director of research at Arctic Digital, stated that the expected rate hike in Japan has prompted investors to act cautiously and accelerated short-term profit-taking. On the other hand, some market analysts argue that this rate increase has largely already been priced in, predicting that the search for a new equilibrium may begin in Bitcoin.
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