Another buy signal has emerged from Michael Saylor. On his X account on October 18, 2026, the Strategy chairman posted a chart showing his company’s Bitcoin purchase history accompanied by a brief caption: “We found room for more orange”. The post hinted that another round of accumulation is underway, without specifying the amount or an exact transaction date.
Bitcoin traded around $81,000 on October 18, according to CoinGecko data, well above Strategy’s average purchase price of $75,444 per coin. The company’s official filing as of October 12 showed total holdings of 848,250 BTC acquired for approximately $64 billion. That 848,250 BTC stash represents roughly 4.04% of the ultimate 21 million coin supply cap.
Behind the casual social media posts, Strategy’s balance sheet reveals a far more calculated deployment of capital.
A Familiar Pattern Behind the Orange Clues
This pattern mirrors events from earlier in the month. On October 4, Saylor posted “More orange than ever” on X when the treasury stood at 847,666 BTC, shortly before announcing the acquisition of 1,665 BTC.
In the week ending October 11, Strategy expanded its holdings by purchasing 250 BTC for $21.5 million. The buy was funded by proceeds from selling 125,183 MSTR shares alongside $500,000 in company cash. Room for further equity-based capital raising remains vast, with roughly $18.81 billion in remaining capacity under MSTR’s at-the-market equity program as of October 11.
When Share Buybacks Outweigh Crypto Purchases
Strategy’s financial filings for the second week of October revealed an interesting detail regarding the company’s capital allocation priorities. Over the same timeframe it acquired 250 BTC, management directed significantly more cash toward its own stock. Strategy spent $192.4 million repurchasing 1,932,145 shares of STRC preferred stock - specifically, Variable Rate Series A Perpetual Stretch Preferred Stock.
The STRC preferred stock buyback was roughly 8.95 times larger than its Bitcoin outlay over the same period. This contrast underscores that Strategy’s capital markets strategy is not solely about acquiring crypto, but also involves internal equity restructuring through preferred share retirements.
When Will New Purchases Be Officially Disclosed?
Whether Saylor has already executed new spot purchases remains unconfirmed. Details regarding coin volume and transaction value will be answered in the company’s next regulatory filing covering activity after October 11.
For market watchers tracking Bitcoin around $81,000, Saylor’s post certainly fuels short-term optimism. But for investors scrutinizing the balance sheet, the true direction of Strategy’s capital is always decided in official disclosure filings, not just visual riddles on a social timeline.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
