• Michael Saylor posted his accumulation chart on Sunday, November 8, hinting at another Strategy Bitcoin purchase.

• Strategy bought 811 BTC for $65.5 million between October 26 and November 1, averaging $80,846 per coin.

• Strategy holdings reached 849,327 BTC at an aggregate cost of $64.08 billion, averaging $75,451 per coin.

Sunday Chart Post Teases Another Buy

Michael Saylor, executive chairman of Strategy, posted his Bitcoin accumulation chart on Sunday, November 8, repeating the routine that has run ahead of the firm's Monday acquisition disclosures. The X post, captioned “Connecting the dots,” linked the tracking chart but said nothing about whether Strategy had bought more coins, how many or at what price. Bitcoin (BTC) price trades near $75,900 at the time of writing, roughly flat over the past 24 hours, and the level matters here: it sits just above the company's overall average purchase cost of $75,451 per coin. The last confirmed buy arrived in a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on November 2. Strategy purchased 811 BTC between October 26 and November 1 for about $65.5 million, an average of $80,846 per coin including fees and expenses, closing a reporting week that had passed with no new purchases. Holdings reached 849,327 BTC, acquired for an aggregate $64.08 billion. That makes the firm the largest corporate Bitcoin whale, and it turns the weekly filing into a tracked event: previous disclosures have identified the coin count, the average price paid and the financing arrangements each time. The stockpile functions as a corporate strategic Bitcoin reserve in everything but name. Readers following the accumulation story can track it on our Bitcoin news hub. Sunday's message carried no updated holdings figure. A new acquisition needs confirmation in Strategy's next official disclosure, which would cover any purchases completed since November 1, and the company has typically delivered those updates on Mondays.

Inside the November 2 Filing

The SEC filing behind the last purchase also records how it was paid for. Strategy sold 1,178,552 MSTR common shares through its at-the-market offering program during the reporting period, generating $164 million in net proceeds. Of that, $65.5 million funded the Bitcoin purchase and $98.5 million was added to the cash balance. The company reported no preferred-share sales in the period. A separate repurchase program bought back 2,092,035 STRC preferred shares for $208.2 million, paid from existing dollar-denominated cash rather than fresh issuance. Strategy closed November 1 with about $4.79 billion in its designated dollar reserve and $132.7 million in separate cash holdings. Management can fund purchases by selling common shares or issuing preferred securities, though any new financing needs confirmation in the relevant reporting period.

STRC, the Stretch preferred that trades on Nasdaq under a variable monthly dividend rate built to encourage trading around its $100 stated amount, closed at $99.84 on Friday, November 6, up 0.38% on volume near 1.61 million shares. Saylor spent part of the weekend explaining the structure: a November 7 post traced how common stock, preferred shares, securities regulation and Bitcoin combined over centuries into what he calls digital credit, which he wrote “took four centuries to make possible.” Market pressure sits in the background as well: U.S. spot Bitcoin ETF products recorded about $1.28 billion in net withdrawals between November 2 and November 6, including $411.9 million on Friday alone. The next scheduled test is MSCI's index review on Wednesday, November 11, a decision on whether companies with heavy digital-asset treasury exposure stay eligible for certain equity indexes. Strategy has estimated the relevant index-tracking funds hold about 13 million MSTR shares, some 3.1% of basic shares outstanding. Its official dashboard recently put the mNAV ratio, which compares the equity valuation with the value of underlying Bitcoin, near 1.12 times, with the common stock closing November 6 at $128.93.

Where $75,900 Leaves Strategy's Cost Basis

Our Bitcoin technical analysis puts the market at $75,912 as of 14:00 UTC, held between the strongest support on our composite scoring, $75,163 at 99/100, and the nearest resistance, $77,691 at 96/100. Perpetual funding rate sits at a neutral 0.0061% and the Fear & Greed Index reads 28, deep in fear, leaving no crowded leverage to force the tape. The arithmetic any confirmed purchase would land on: at current levels the market sits about 6% below Strategy's latest average cost of $80,846 and barely above its lifetime average of $75,451, which leaves the recorded 849,327 BTC, bought for $64.08 billion, close to breakeven. Bears such as Peter Schiff read the same numbers as room for a deeper drop. A move through $77,691 would put the tape back above the latest purchase price; a break of $75,163 would hand the argument to the bears. The next 8-K settles the question.