Michael Saylor indicated that Strategy could buy more Bitcoin this week after posting a screenshot of the SaylorTracker chart with the caption: “₿ack to Orange Dots?”
Historically a similar Sunday to inform have been followed by announcements that the company has acquired more BTC.
A new purchase would take his holdings above 650,000 BTC, currently valued at over $59 billion, with an unrealized gain of almost 22%.
If the company indeed announces a new Bitcoin acquisition later today, the company’s large BTC reserves will rise above 650,000 coins. at an average price of $74,431.
BTC holdings strategy (Source: Bitcoin treasuries)
Saylor’s question about whether the company should return to “orange dots” refers to the dots on the SaylorTracker chart. Last week, Strategy added its first green dot to the chart when it set up a $1.4 billion USD reserve to cover dividend payment obligations.
Strategy’s recent buying activity could be an early signal of a bear market
The strategy has continued to buy during the price weakness, although recent tranches have been smaller than earlier this year.
Over the past two months, the company’s BTC purchases have largely been below 1,000 coins. The only exception was on November 17, when Strategy bought 8,178 BTC for $836 million. website shows.
CryptoQuant comments on Strategy’s Bitcoin buying activity warned that the slowdown and the creation of a $1.4 billion USD reserve could be pre-emptive steps by the company to prepare for a prolonged bear market.
JPMorgan Says Strategy Is Key to BTC’s Direction, MSCI Lockout Risk Looms
Given Strategy’s substantial stakes in the largest cryptocurrency by market cap, JPMorgan analysts said the company holds the key to BTC’s future price.
Analysts led by Managing Director Nikolaos Panigirtzoglou said the ratio of Strategy’s enterprise value to its BTC holdings, or mNAV, has remained above 1. They called this an “encouraging” sign for the overall market.
The report came after Strategy’s share price fell plummeted over 54% in the past six months, coinciding with a broader retreat from Digital Asset Treasury (DAT) companies.
In addition to the correction in the DAT landscape, Strategy is also preparing for a possible removal from the MSCI indices next month. If this happens, JPMorgan said it could lead to a loss of purchasing power of as much as $12 billion for Strategy (MSTR) stock. MSCI’s decision is scheduled for January 15.
Cantor Fitzgerald cut its price target on Strategy’s share price by 60% last week, but maintained its buy rating on MSTR, saying fears of a sell-off are “overblown.”
Saylor has reportedly been in talks with MSCI, and Strive CEO Matt Cole urged MSCI to reconsider its proposal to remove government bonds from its indexes, warning that this would limit investors’ access to “the fastest growing part of the global economy.”
https://t.co/5gdKWpFATh
— Matt Cole (@ColeMacro) December 5, 2025
Concerns that MSTR may be forced to sell Bitcoin if it is removed from the MSCI indexes are “plainly wrong,” Bitwise CIO Matt Hougan said last week.
“I understand why bears want to embrace the MSTR ‘doom loop’ idea,” he said on December 3 comment customers. “It would indeed be very bad for the bitcoin market if MSTR had to sell its $60 billion worth of bitcoin all at once. But with no debt until 2027 and plenty of cash to cover interest payments for the foreseeable future, I just don’t see this happening.”
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