Saylor Signals Strategy May Buy More Bitcoin Amid Oil and Inflation Risks

Michael Saylor signaled Strategy may announce another Bitcoin purchase on Monday after posting Sunday, “We found room for even more orange.” Strategy holds 848,517 BTC worth about $66 billion against a $64 billion cost, according to BeInCrypto, after October purchases of 334, 250 and 267 BTC; it then spent $204.9 million buying back STRC. Saylor called this the start of a new Bitcoin bull market. Oil ended October at $117.64 a barrel, inflation was 3.7%, and the Fed held rates at 3.75%–4% on October 28, though two officials favored a hike. Strategy sold 5,552 BTC in the third quarter to fund dividends and buybacks; Bitcoin per diluted share fell 3.7% this year, and new MSCI rules could threaten its index membership.