Saylor posts 'more orange' chart as U.Today puts Strategy's Bitcoin at $70.48B
In brief
- Michael Saylor posted a 117-dot treasury chart on October 11, 2026.
- Strategy holds 848,000 BTC worth $70.48 billion, about 4.04% of supply, U.Today reported.
- STRC preferred shares traded below $100 par during October 5–9, per U.Today.
- STRC channel produced 0.00 BTC in purchases that week, U.Today said.
- mNAV Basic stood at 0.92x and average cost at $75,436 per Bitcoin, per U.Today.
What the post signals
U.Today said Saylor's post came as Strategy was restructuring its financing strategy ahead of another purchase. The outlet read it as a sign that alternative funding channels are working and that the company is ready to buy more. That's U.Today's interpretation, not a confirmed order.
"There's always room for more orange."
STRC slipped below par
Strategy's STRC preferred shares (described by U.Today as Saylor's main fundraising instrument) traded below their $100 par value during the week of October 5–9, in a range of $99.43 to $99.66. That matters because of how the outlet says the system is wired. When STRC trades below par, U.Today reported, an internal "Buyback Zone" kicks in: issuing new shares to buy crypto is prohibited, and the company buys back its own discounted securities instead.
The STRC channel's haul for the week, per U.Today, was 0.00 BTC.
That's not the whole picture. Strategy relied on other credit lines, with the overall financing system totaling $12.69 billion, according to the report. Its STRF securities traded above par at $103.98 and served as a source of liquidity.
Cost basis and valuation
U.Today put Strategy's latest purchase at 334 BTC at $85,838 per coin and its average cost across the whole portfolio at $75,436 per Bitcoin. With Bitcoin trading above $83,000, the outlet said Saylor is sitting on a profit.
The market isn't paying full price for that stack. U.Today reported mNAV Basic at 0.92x, which it described as a slight discount on the company's net assets.
The chart says there's room for more. U.Today's read is that the money's in place too.
Frequently asked questions
What is the 'Buyback Zone' U.Today described for Strategy?
U.Today reported that when Strategy's STRC preferred shares trade below their $100 par value, an internal system activates a 'Buyback Zone.' In that mode, according to the outlet, issuing new shares to buy crypto is prohibited and the company buys back its own discounted securities instead.
How much Bitcoin does Strategy hold, according to U.Today?
U.Today reported that Strategy controls 848,000 BTC valued at $70.48 billion, or about 4.04% of all Bitcoin in existence. The outlet put the company's average purchase price at $75,436 per Bitcoin.
