Saylor hints at more Bitcoin buys as Strategy's holdings reach 848,250 BTC

By Khal · · 2 min read

Editorial illustration: Orange Bitcoin tokens fill a dark compartmented tray, with one token and several empty compartments in an adjoining tray.
AI-generated editorial illustration · AI-generated editorial illustration · Published Oct 18, 2026, 3:30 p.m. (46 minutes ago)

In brief

  • Michael Saylor posted "We found room for more orange" alongside a chart of Strategy's Bitcoin purchases.
  • Strategy's dashboard showed 848,250 BTC, worth $69.45 billion, by mid-October, per U.Today.
  • October reports showed Strategy's direct Bitcoin buying fell to an annual low, per U.Today.
  • MSCI decision on possibly excluding Strategy from its benchmarks is expected November 11, 2026.

What the dashboard shows

Strategy's corporate dashboard put its holdings at 848,250 BTC by mid-October 2026, which U.Today said equals 4.04% of total global supply. U.Today valued the stack at $69.45 billion, with an average purchase price of $75,444 per coin. The outlet also put the company's net unrealized profit at 8.15% and the portfolio's year-to-date growth at 26.1%.

Strategy is still the largest corporate holder of Bitcoin.

Saylor's post didn't announce a new purchase (it's a hint at more buying, in his own words):

We found room for more orange.

Buying slowed in October

The hint comes after a quieter stretch of buying. U.Today's account of Strategy's October operating reports says direct Bitcoin purchases fell to an annual low, and the company bought 250 BTC (about $21.5 million) over the reporting week. According to the same account, Strategy put $192.4 million toward buying back its own Series STRC preferred shares, and it keeps a $5.5 billion reserve in dollar instruments.

U.Today's reading is that management, with the STRC yield up to 12.31%, decided cutting future dividend costs mattered more than buying Bitcoin at current prices. That's the outlet's interpretation. Strategy hasn't said it.

MSCI decision still pending

MSCI has updated its selection criteria, and Strategy could be dropped from global investment benchmarks as a result, according to U.Today. Nothing's final yet. MSCI's official decision is expected on November 11, 2026, and JPMorgan analysts estimated that passive funds could be forced to pull $2.8 billion from MSTR shares, U.Today reported.

The market didn't wait. Strategy shares fell 9.56% to $136.83 in what U.Today described as a preemptive sell-off over the MSCI risk, and the basic mNAV ratio slipped to 0.83x (meaning the stock trades below net asset value).

So the orange chart shows what Saylor intends to do, but it isn't a purchase filing.

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