10 December 2025
Michael Saylor's recent comments have fueled renewed speculation about his company's Bitcoin holdings. His tweet, accompanied by a chart of the portfolio, posed the question: "What if we start adding green dots?" This comment inspired many investors, who interpreted it as encouragement for new purchases. The chart reveals that the company's Bitcoin inventory is worth nearly $60 billion, based on 649.870 Bitcoins acquired through 87 separate purchases.
In the company's tracker, previous purchases are displayed as orange dots. The suggestion of green dots indicates potential new purchases, which is especially relevant now that volatility has returned to the crypto markets. Any hint of institutional accumulation attracts market attention, especially at a time of increased price uncertainty.
Phong Le, the company's CEO, emphasizes that selling is a last resort. In a recent podcast, he stated that the company is only Bitcoin would sell under extreme circumstances, for example if the market value falls below the net asset value (NAV) and no new capital can be raised.
Reports indicate that the company plans to cover the annual dividends on its preferred stock, which range between $750 million and $800 million, by raising capital when the shares trade above NAV. This approach allows the company to expand its Bitcoin inventory while simultaneously meeting dividend payments.
Company documents show the company is able to maintain dividends even during financial stress. The company recently announced a BTC A credit dashboard was launched to give investors better insight into how the company can meet its long-term obligations. The average purchase price of Bitcoin is around $74.000. According to their calculations, the company can maintain its dividend payments for decades, even if the price of Bitcoin remains around this average cost.
After reaching peaks above $126.000 in October, Bitcoin plummeted, falling below $86.000 in early December, a 6% drop in a single session. Other tokens also suffered losses; Ethereum dropped more than 7% to around $2.800. Analysts attribute the sell-off to a broader risk-off attitude among investors, influenced by concerns about inflation and central bank policies.
The pressure the company faced earlier when Bitcoin was trading around $90.000 even temporarily jeopardized its Nasdaq-100 membership. Nevertheless, the company's leaders continue to emphasize a long-term view on Bitcoin. Saylor's recent public hints, combined with Le's comments about selling policies, indicate the company is open to buying dips, while clearly setting limits on selling considerations.
The coming weeks will determine whether those green dots appear on the company's tracker and whether market conditions allow large holders to add to their positions.
What implications does Saylor's comment have for the Bitcoin market?
Saylor's comment has fueled speculation that more institutional buying is coming, which could lead to increased demand and potentially higher prices for Bitcoin, especially during a period of volatility.
What are the risks for investment firms like Strategy?
Risks include market volatility, where a sharp drop in the Bitcoin price could lead to liquidations in their portfolio or a need to sell assets at unfavorable prices if the NAV is eroded.
How can investors assess Strategy's results?
Investors can assess Strategy's performance by looking at trends in its Bitcoin accumulation, dividend payments, and its ability to tap into new sources of capital, all of which are key indicators of its financial health and strategic direction.
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
