Michael Saylor Hints at Buying More Bitcoin as BTC Slides to $71,500

Michael Saylor posted “Think ₿igger” on X on April 12, attaching the “Orange Dots” chart that has become closely watched in institutional crypto circles. Each orange dot represents a Bitcoin purchase by Strategy, with additional dots typically appearing over time.

The post arrived as Bitcoin was under pressure, sliding toward $71,500 after news broke that high-stakes US-Iran peace talks in Islamabad had collapsed without a deal. The negotiations—described as the most direct diplomatic exchange between Washington and Tehran in decades—ended amid disagreements over nuclear commitments and control of the Strait of Hormuz, and markets reacted negatively.

The Strait of Hormuz is a major geopolitical flashpoint: roughly one-fifth of the world’s oil supply moves through the waterway daily. After the US Navy began minesweeping operations in the region, risk sentiment weakened across equities, commodities, and crypto. Bitcoin fell by approximately 2.5% amid the heightened standoff and lack of a clear resolution.

Orange Dots pattern and recent purchase confirmation

Last week, Strategy confirmed a $330 million Bitcoin purchase shortly after a similar Orange Dots post appeared. The article notes that the chart-and-buy sequence has become a recurring pattern: when Saylor publishes the Orange Dots chart, a buy announcement has tended to follow within days.

Strategy’s balance sheet supports continued accumulation

The article frames Strategy’s Bitcoin activity as backed by financial capacity rather than timing alone. Strategy currently holds 766,970 BTC, valued at approximately $54.47 billion. It also cites a buying pace running 2.2 times faster than the newly mined Bitcoin supply entering the market.

Strategy’s financing position is described as follows: the company carries $2.25 billion in USD reserves against $8.25 billion in total debt, with net leverage at 11%. Enterprise value is reported at $60.9 billion, compared with a market capitalization of $44.6 billion.

Capital runway and next steps

The article also points to remaining funding capacity, stating that a $42 billion at-the-market equity facility remains available. It adds that additional runway is expected through ongoing STRC fundraising. Strategy paused a 13-week consecutive buying streak in late March, though the article characterizes that pause as likely temporary.

With Saylor’s post circulating and Strategy’s capital pipeline described as still active, the article concludes that another major Bitcoin acquisition may already be underway.