Bitcoin suffered a violent selloff over the weekend, plunging from $87,970 to a low of $75,892 — a 13% single-day drop. The move sliced through the average cost basis of Strategy (formerly MicroStrategy), which holds over 712,000 BTC at an average entry price of approximately $76,040 per coin. The world's largest corporate bitcoin holder briefly found itself underwater on its massive position.
Saylor Posts 'More Orange' Cue, Hinting at Fifth 2026 Purchase
Amid the market panic, Strategy Executive Chairman Michael Saylor posted a chart on social media showing the company's cumulative bitcoin acquisition history since August 2020, totaling over $55 billion. The caption read simply: "More Orange." Based on past behavior, such posts have consistently preceded a new bitcoin purchase announcement. If confirmed, this would mark Strategy's fifth bitcoin buy in 2026. The company's largest single purchase came on January 20, when it acquired 22,305 BTC. Strategy now holds more than 712,647 bitcoin, representing over 3% of the total supply.
Trump's Hawkish Fed Pick Rattles Markets, Fuels Selloff
The catalyst for the crash came from Washington. On Friday, former President Donald Trump nominated former Federal Reserve governor Kevin Warsh to replace current chair Jerome Powell. Warsh is considered a hawk who favors fiscal discipline and inflation fighting — the opposite of the looser monetary policy markets had expected. The news sent risk assets reeling. The crypto Fear & Greed Index crashed to 14 out of 100, its lowest in over a month. Traditional markets also suffered: gold and silver posted double-digit percentage losses, and the S&P 500 fell roughly 0.43%. Even former Binance CEO Changpeng Zhao (CZ) publicly said his confidence in the so-called "bitcoin supercycle" has waned.
Strategy's underwater position is a warning sign: if bitcoin continues to weaken, the company's $55 billion+ BTC holdings could face significant stress, potentially triggering a cascade of forced selling. Yet Saylor's response was not fear but accumulation. Historically, Strategy has bought on every major dip, and those decisions have consistently paid off. Markets are still digesting the Fed leadership shake-up, and near-term volatility is likely. But for long-term hodlers, when the world's largest corporate bitcoin owner chooses 'More Orange' at the moment of peak fear, it may be a signal worth watching.