‘Orange March continues’ – Michael Saylor’s Bitcoin buys continue despite ‘Extreme Fear’
Michael Saylor's company, MicroStrategy, continues its aggressive Bitcoin accumulation strategy, dubbed the "Orange March," despite prevailing market fear. The Crypto Fear & Greed Index indicates "extreme fear," with BTC trading around $68,578 and many traders betting on a drop below $45,000. Unfazed, MicroStrategy has made 103 purchases, amassing 761,068 BTC. Although its average purchase price of ~$75,696 currently puts its $52.36 billion holdings at an unrealized loss of roughly 9%, the firm's strategy focuses on long-term accumulation, not market timing. The company raises capital, including through stock sales, to fund its purchases. Analysis of MSTR stock options shows significant put support at $80-$110 and large call bets at $140-$160, suggesting potential for a sharp upward move. Analysts project MicroStrategy could hold more Bitcoin than Satoshi Nakamoto (est. 1.1M BTC) by March 2027.
ambcrypto03/23 12:05