Strategy Chairman Hints at Continued Bitcoin Buying Amid Market Turbulence

Michael Saylor, Chairman of Strategy, has made it clear that his company is prepared to continue buying Bitcoin as the cryptocurrency stabilizes around $67,000. In a recent post on X, Saylor jokingly hinted at needing a 'bigger' orange bag to carry his growing Bitcoin holdings. This statement comes amidst turbulence in the crypto market and MSTR stock's decline.

Strategy currently holds 718,722 BTC, worth approximately $48 billion. However, with an average purchase price near $76,000, Saylor and his company are sitting on an unrealized loss of about 12% on their position. Despite this, the company's mNAV ratio remains around 1.

Saylor has consistently emphasized the importance of holding Bitcoin for the long term, advising investors to be prepared to hold it for 7-10 years. His optimism is evident despite the current market conditions and MSTR stock's decline.