Michael Saylor hinted that Strategy bought more Bitcoin last week, even as the price drop deepened the company's paper losses. Strive's CEO dropped a similar hint, while Strategy also faces removal from MSCI's indexes.
Michael Saylor has hinted that Strategy made another Bitcoin purchase last week, as BTC's latest slide again put the company's holdings underwater. In an X post, he shared the company's portfolio tracker with the caption "This dip could use a little orange."
His Sunday posts typically precede an announcement of a new purchase the following week, according to CoinGape. A week earlier, Saylor posted a similar chart, and Strategy then disclosed a purchase of another 1,036 bitcoin for approximately $81.9 million during Nov. 2-8.
Bitcoin slide deepens Strategy's paper loss
Bitcoin fell as low as $62,000 over the last 24 hours and is now down more than 17% over the last month. During that period it dropped from above $80,000.
According to DropsTab data, Strategy is sitting on an unrealized loss of more than $9.5 billion. Bitcoin.com, using Saylor's chart, put the company's reserve value at $55.7 billion, against a disclosed acquisition cost of $64.16 billion.
MSCI exclusion adds pressure
Strategy also faces exclusion from MSCI's global indexes after MSCI classified it as a non-operating company with a major reliance on its BTC strategy. MSCI will delete Strategy from those indexes by the end of this month, along with fellow Bitcoin treasury firm Metaplanet.
Strive CEO signals more buying
Strive CEO Matt Cole also hinted at a purchase last week. He posted his company's portfolio tracker with a caption saying Bitcoin is cheap and the company wants more.
The company has bought BTC every week since July 2 and now holds 43,153 BTC, the fourth-largest Bitcoin treasury firm behind Strategy, Metaplanet, and Twenty One Capital. Its stock is up more than 40% year-to-date, while Strategy's stock is down more than 27% year-to-date.
Sources: CoinGape, Bitcoin News
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