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The "Add More Points" signal worked again.
On June 7, Michael Saylor posted a familiar chart on X showing a Bitcoin acquisition strategy tracker with the caption "A good time to add more points." In crypto circles, this phrase has become a reliable signal before announcements — and within 24 hours, the 8-K form document confirmed exactly what the market expected.
Between June 1 and 7, the strategy bought 1,550 Bitcoins for $101.3 million at an average price of $65,332 per coin. The purchase brought total holdings to 845,256 Bitcoins, or about 4% of the total Bitcoin supply. To put the numbers in context: that was one of the largest purchases, nearly 50 times the amount of Bitcoin the company sold just a week earlier. After selling 32 Bitcoins the previous week — which caused an 18% market drop — Saylor bought even more.
The market reaction was swift. Bitcoin rebounded 4% from weekend lows near $59,100 and settled above $63,000 on Monday, aided by the announcement to calm the market. The company also rebuilt its US dollar reserve to $1 billion, which J.P. Morgan described as a necessary cushion for preferred dividend payments. The purchase was financed through stock issuance — issuing 1,409,600 shares of MSTR for $181 million, then using part of it to buy Bitcoin while restoring its cash reserve.
Despite the headline, the numbers reveal more details. The average cost per Bitcoin for the strategy across its entire position of 845,256 Bitcoins is $75,680 — meaning that at current prices around $63,000, the company is sitting on an unrealized loss of nearly $10.5 billion. Peter Schiff criticized the purchase as dilutive to ordinary shareholders, noting that issuing new shares to fund Bitcoin acquisitions increases the number of shares while reducing current shareholders’ ownership percentage.
This purchase is at a crossroads. The strategy controls more Bitcoin than any public company in the world, and its continued buying reinforces the hypothesis of corporate accumulation monitored closely by other companies. But the widening gap between acquisition cost and market price remains a real financial risk.
For traders, it’s worth noting the pattern. When Saylor posts points, history suggests a buy is coming — though the price he bought at last week is just part of a much larger position.
This content is for informational purposes only and does not constitute financial advice.
Always do your own research before making any investment decisions.
$BTC
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