MicroStrategy (NASDAQ: MSTR) Executive Chairman Michael Saylor has signaled the company may have resumed Bitcoin buying after a two-week pause in acquisitions.
Saylor posted “A little more orange” above a chart of the firm’s Bitcoin holdings, a format he has used previously ahead of purchase disclosures.
The company reports any Bitcoin buying activity every Monday, making the next scheduled filing the confirmation investors are closely watching for.
MicroStrategy’s most recent SEC filing, submitted September 14, confirmed the firm neither bought nor sold Bitcoin between September 8 and September 13.
A filing the week prior reported the same outcome for the previous seven-day period, marking an extended stretch of inactivity in the company’s acquisition strategy.
Strategy held approximately 845,050 BTC as of September 13, acquired at a total cost of $63.73 billion, averaging $75,412 per coin.
The firm’s last confirmed purchase was 4,603 BTC for $369.7 million, disclosed on August 31, ending what had been a 10-week buying pause.
Rather than purchasing Bitcoin in the week ending September 13, Strategy allocated $139.3 million toward buying back preferred shares, leaving $1.30 billion in its dedicated purchase account.
The renewed attention on MicroStrategy’s Bitcoin activity coincides with a broader public debate over whether Bitcoin’s recent price recovery is sustainable or illusory.
Angel investor Jason Calacanis sparked the argument by posting a one-year Bitcoin chart showing the asset down approximately 31%, writing that “the dead cat continues to bounce.”
A dead cat bounce refers to a brief price recovery occurring within a larger, sustained downward trend, and is technically confirmed only if prices subsequently break below the prior low.
ARK Invest founder Cathie Wood rejected the dead cat characterization outright, referencing her firm’s research on both Bitcoin and artificial intelligence in her rebuttal.
Market data showed Bitcoin trading near $81,292 at the time of the exchange, well above the roughly $75,000 low from which it had rebounded earlier.
By strict technical standards, the dead cat bounce label cannot be confirmed while Bitcoin’s price continues to hold above that previous dip, leaving the debate unresolved.
Investors and analysts are now watching both MicroStrategy’s Monday filings and Saylor’s social media activity for any indication that purchases have resumed.
