Strategy adding Bitcoin dots may be happening again this week. Michael Saylor took to social media and shared a cryptic post on Sunday, June 14.
Consequently, this sparked speculations around the company continuing its BTC acquisition spree.
Why “Strategy adding Bitcoin dots” matters
Michael Saylor shared the “Orange Dots” chart on X. Strategy’s Executive Chairman captioned it: “Still adding dots.”
Crypto traders commonly interpret this phrase as an indicator of new BTC buys. For context, the chart shows the number of Bitcoin purchases Strategy has made over the years. Each purchase is marked with an orange dot.
Therefore, Saylor’s weekend posts have accompanied this chart on several occasions ahead of official buying announcements. That is why the latest message has spurred optimism in the market today.
When a user asked if the buying sign was a “delusion or conviction,” Saylor responded: “Conviction.” Thus, his statement seemingly confirms that Strategy is buying BTC this week.
Recent purchases and cash position
The update follows Strategy’s latest announcement of a 101 million BTC acquisition a week ago. Specifically, the company closed on that acquisition at an average price of $65,332 per Bitcoin amid the market’s pullback. Notably, ahead of that purchase, Michael Saylor had also shared the “Orange Dots” post.
Following the deal, Strategy’s Bitcoin holdings rose to 845,256 BTC, worth $54.36 billion. Additionally, the company announced in an 8‑K filing that its cash reserve rose by $100 million to $1 billion.
Will Strategy ever be “forced” to sell its BTC stash?
This buying signal comes amid increasing talk about whether Strategy may have to sell some of its BTC holdings under financial stress. For example, in an interview with crypto analyst Scott Melker, Strategy’s CEO Phong Le discussed the company’s preferred stock commitments and convertible debt.
“The most realistic scenario of us being a forced seller of Bitcoin is we have about $3.5 billion of preferreds that come due 2028,” Le remarked.
He added: “If at that point in time Bitcoin has lost a significant amount of its value, our share price is depressed, we would sell the Bitcoin actually to satisfy the converts.”
Nevertheless, he noted that this scenario is an “edge case.” He suggested that refinancing or turning the liabilities into equity may still be viable alternative ways instead of selling Bitcoin. Therefore, forced liquidation remains unlikely under normal conditions.
