Michael Saylor Signals Possible Bitcoin Purchase as BTC Dips Under $88K
Bitcoin experienced renewed selling pressure late Sunday, briefly dropping to around $87,600, marking its lowest level in roughly two weeks. The decline followed a pattern seen recently, where prices tend to dip during weekend trading before rebounding.
Despite the drop, Bitcoin managed to recover above $89,000 shortly afterward.
Amid the market weakness, Strategy chairman Michael Saylor hinted that his company may increase its Bitcoin holdings. He shared a post on X referencing “more orange dots,” a phrase commonly associated with the firm’s Bitcoin accumulation activity.
According to available tracking data, Strategy’s most recent purchase was made in mid-December, when it acquired over 10,000 BTC, its largest buy in several months. The company now holds approximately 660,000 BTC, valued at more than $58 billion based on current market prices.
With an average purchase price below the current market level, Strategy remains in profit on its Bitcoin position for now.
#Cointelegraph