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Strategy founder Michael Saylor signalled a possible Bitcoin purchase after the cryptocurrency’s weekend sell-off briefly pushed the company’s holdings below their average cost basis.
Saylor posted “More Orange” on X alongside a chart of Strategy’s roughly $55 billion in Bitcoin purchases, a message he has repeatedly used to indicate fresh buying.
The move followed Bitcoin’s slide of more than 13% to $75,892, which dipped below Strategy’s estimated cost basis of $76,040 before rebounding above $76,700.
The sell-off came after US President Donald Trump nominated Kevin Warsh to replace Jerome Powell as Federal Reserve chair, triggering declines across risk assets.
Strategy, led by Michael Saylor, is the world’s largest corporate Bitcoin holder with more than 712,000 BTC, and its long-term buying strategy has kept it mostly profitable over the past five years.
Crypto sentiment has weakened further, with former Binance chief executive Changpeng Zhao saying he was “less confident” about the Bitcoin supercycle he predicted last month amid rising fear and uncertainty.
The Crypto Fear and Greed Index fell to 14 out of 100 on Sunday, its lowest reading in over a month, as broader market jitters weighed on digital assets.