Bitcoin Bull Michael Saylor Triggers the Anticipated Bitcoin Signal – “Orange March Continues”
Michael Saylor, a name closely followed in the cryptocurrency markets, has given a new signal regarding Bitcoin purchases. In his latest Bitcoin update shared on social media, the founder of Strategy used the phrase “Orange March continues,” indicating that the company’s Bitcoin accumulation strategy is ongoing.
Because the orange dots in the charts included in Saylor’s posts have historically represented direct Bitcoin purchases, this statement was interpreted by the market as a harbinger of a new purchase. Looking at Strategy’s previous behavior patterns, the company is known to typically make official announcements a day after a purchase. This strengthens the expectation that the current post could be supported by a new purchase announcement soon.
Related News: Watch Out: A Large Number of Token Unlocks Are Scheduled for 21 Altcoins This Week—Here’s the Day-by-Day, Hour-by-Hour List
According to the latest data, Strategy holds a total of 761,068 BTC. The total amount the company paid for these assets is approximately $57.61 billion, while the average cost of purchase is calculated at $75,696. Under current market conditions, the value of this portfolio is approximately $52.3 billion, and the company carries an unrealized loss of approximately 9% compared to its average cost.
An analysis of purchases made throughout March reveals that Strategy is continuing its aggressive accumulation strategy. The company significantly increased its total assets by purchasing 22,337 BTC on March 16th, 17,994 BTC on March 9th, and 3,015 BTC on March 2nd.
*This is not investment advice.
Continue Reading: Bitcoin Bull Michael Saylor Triggers the Anticipated Bitcoin Signal – “Orange March Continues”
You May Also Like
Top Altcoins To Buy Before The ETF Season Kicks In
Taiko Makes Chainlink Data Streams Its Official Oracle
