Key Highlights
- Michael Saylor posted “Stretch the Orange Dots” on X, hinting that Strategy may soon buy more Bitcoin.
- Strategy currently holds about 738,731 BTC, worth roughly $52.9 billion, making it the largest corporate holder of Bitcoin.
- Former U.K. Prime Minister Boris Johnson called Bitcoin a “giant Ponzi scheme,” but Saylor rejected the claim
Michael Saylor has again caught the attention of the crypto space after hinting at another potential purchase of Bitcoin.
The founder posted the phrase “Stretch the Orange Dots” on X, while sharing a chart that tracks the company’s Bitcoin purchases.
The “Orange Dots” signal explained
The chart shows a long line of orange dots placed across a timeline. Each dot represents a Bitcoin purchase made by the company. When the company buys more Bitcoin, another orange dot is added to the chart. Because of this, the phrase “Stretch the Orange Dots” suggests that new dots could soon appear.
The chart also gives a clear picture of how much Bitcoin the company has collected over the years. It shows a total of 102 separate purchase events that helped build the company’s current holdings.
According to the data shown, Strategy now owns about 738,731 BTC, which based on a market price close to $71,626 per Bitcoin, now worth around $53.5 billion.
The company’s recent purchase was on March 9, when it bought 17,994 BTC for about $1.28 billion at an average price of about $70,946 per coin. That purchase increased Strategy’s already massive Bitcoin treasury and strengthened its position as the largest corporate holder of Bitcoin.
At the same time, the firm’s public dashboard also provides a snapshot of its broader position. Strategy shares traded around $139.67, rising about 1.70%, giving the company a market value close to $47.8 billion and an enterprise value of about $62.6 billion.
The dashboard also showed about $3.29 billion in trading volume and around $2.72 billion in average 30-day trading activity.
The balance sheet also shows how the company supports its Bitcoin strategy. Strategy holds about $2.25 billion in U.S. dollar reserves while carrying around $8.25 billion in total debt. These numbers help support the company’s long-term plan of building a large Bitcoin treasury.
Debate around Bitcoin intensifies
Meanwhile, the conversation around Bitcoin’s legitimacy intensified after the former U.K. Prime Minister Boris Johnson criticized the cryptocurrency in a newspaper column.
Johnson called Bitcoin a “giant Ponzi scheme” and argued that digital assets depend on “a supply of new and credulous investors.” He questioned why people should trust a system created by the pseudonymous Satoshi Nakamoto.
However, Saylor quickly responded to that claim. In a comment on X, explained that a Ponzi scheme requires a central operator promising profits. Bitcoin, he said, has “no issuer, no promoter, and no guaranteed return—just an open, decentralized monetary network driven by code and market demand.”
Industry voices also weighed in on corporate demand for Bitcoin. Adam Back of Blockstream wrote that companies following treasury strategies could eventually buy far more Bitcoin than miners produce daily, potentially reaching around 20,000 BTC in weekly purchases.
At the time of writing, Bitcoin is trading for $71,361. This is up a modest 0.96% in the last 24 hours. The token had an incredible week, after gaining about 6.65% in seven days, according to data from CoinMarketCap.
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