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Michael Saylor is back in action ahead of the new trading week in financial markets. On October 11, 2026, the head of Strategy Inc. posted a fresh treasury chart featuring 117 purchase dots and his favorite phrase: "There's always room for more orange."
The company officially controls 848,000 BTC worth a staggering $70.48 billion, accounting for 4.04% of all Bitcoin in existence. But the most interesting part remained behind the scenes: the post appeared just as the treasury was restructuring its financing strategy ahead of another purchase.
The reason is that during the week of October 5–9, Saylor's main fundraising instrument, STRC preferred shares, fell below their $100 par value and remained stuck in the $99.43–$99.66 range.
At that point, the company's strict internal algorithm kicked in. When the security trades below par, the system automatically activates the "Buyback Zone."
Issuing new shares to purchase cryptocurrency is prohibited. Instead, the company must spend money buying back its own discounted securities to support their price. The result for the week through this channel was exactly 0.00 BTC.
Where Saylor gets the money to buy Bitcoin
Saylor does not say there is always room for more Bitcoin for no reason. The message is clear: a technical pause in one instrument will not stop the entire buying machine. The treasury has already learned to work around its own restrictions by relying on other credit lines, with the overall system totaling $12.69 billion.
While STRC was on the defensive, another class of securities, STRF, traded firmly above par at $103.98 and served as a source of liquidity. The latest targeted purchase of 334 BTC at $85,838 per coin demonstrated this clearly: the company has money even without STRC.
The average purchase price across the company's entire portfolio currently stands at $75,436 per Bitcoin. With the current price above $83,000, Saylor is sitting on a solid profit. The market values the company's net assets at a slight discount, with mNAV Basic at 0.92x, but forced share buybacks offset this.
Saylor's latest post signals that alternative channels are operational, funds have been accumulated, and the company is theoretically fully prepared for the next wave of purchases.
Arman Shirinyan
Dan Burgin
