Michael Saylor Hints at More BTC Purchases After Major Buy Last Week as Prices Dip Below $90K

Bitcoin prices dipped below $90,000 (£67,314) once again amid ongoing market volatility, which was largely triggered by a significant sell-off in early October. Despite this turbulence, Strategy's Michael Saylor remains committed to acquiring more bitcoin, signalling his confidence in the long-term prospects of the cryptocurrency.

Saylor shared a cryptic post on Sunday on X, stating: 'Back to More Orange Dots.' This phrase refers to orange markers on Strategy's treasury charts, which denote bitcoin purchase events. Each dot signifies a verified purchase of bitcoin by the company. The post's implication is clear: Strategy appears poised for another substantial bitcoin buying spree.

Saylor's Post Comes a Week After Massive BTC Acquisition

In the first week of December, Strategy purchased 10,624 bitcoins for $962.7 million (£720 million), at an average price of $90,615 (£67,774) per token, according to an 8-K filing with the US Securities and Exchange Commission. This latest purchase increased the company's BTC holdings to 660,624 tokens worth over $49 billion (£36.6 billion). The company remains the largest corporate holder of bitcoin.

The latest purchase was made using proceeds from at-the-market sales of Strategy's class A common stock and perpetual Stride preferred stock.

The firm also launched a $1.44 billion USD reserve to support dividend payments on its preferred stocks and interest on its outstanding debt. Bitwise CIO Matt Hougan believes this cash reserve is sufficient to cover its commitments for approximately one year and a half.

The BTC acquisition last week is among the biggest trades Strategy has made in months, signifying the company's boldness amid heightened uncertainty.

The latest update on orange dots shows 89 discrete buying events by Strategy since 2020. The broader plan involves disciplined long-term accumulation based on the belief that fiat currency debasement will persist in the long run.

Saylor's Christmas BTC Price Prediction Unlikely to Materialise

In late October, during the height of the BTC sell-off, Saylor stated in an interview that the BTC growth cycle remains intact: 'I think Bitcoin's going to continue to grind up. The volatility is coming off of it as the industry becomes more structured,' he said.

Saylor also predicted the bitcoin price could reach $150,000 (£112,191) by the end of 2025. 'Our expectation right now is about $150,000 by the end of this year,' he added, and that BTC could reach $1 million (£747,943) per coin within the next four to eight years.

'I don't see why it won't grind up to a million dollars a coin over the next decade,' he said. 'Of course, my long-term forecast is that it goes up about 30% a year for the next 20 years, heading toward $20 million (£14.9 million) per Bitcoin.'

However, Saylor's BTC price forecasts for the end of 2025 seem unlikely given current price trends.

Index Spotlight on Strategy

Elsewhere, Strategy retained its spot in the Nasdaq 100 index after the index's annual reconstitution, despite mounting pressure on index providers to reevaluate how firms with crypto-heavy balance sheets should be classified.

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