JAKARTA - Michael Saylor, founder and executive of Chairman Strategy, has again sparked speculation about the massive purchase of Bitcoin after posting a short but meaningful sentence on platform X on June 8: "Send more Orange." This post immediately caused a commotion in the crypto community, considering that Saylor often uses this kind of symbolic language before announcing the acquisition of Bitcoin by his company.
The post comes just moments after Strategy announced a $1 billion preferent share offering, or around IDR 16.3 trillion. The proceeds from this offering, according to an official announcement, will be used to buy more Bitcoins and for the company's general operational purposes. This move reinforces Strategy's position as the public corporation with the world's most aggressive Bitcoin investment strategy.
The previous week, Strategy was recorded to have purchased 705 BTC with a value of around 75 million US dollars, equivalent to IDR 1.22 trillion. The average purchase price per coin is at 106,495 US dollars, which shows the company's commitment to keep buying even though the price of Bitcoin has soared. With this acquisition, Strategy's total current ownership reaches 580,955 BTC, worth more than US$61.4 billion or around IDR 1,003 trillion. The unrealized profit from their Bitcoin investment is now estimated at $20.6 billion.
Uniquely, the stock offering this time is not as usual. Strategy sells 11.76 million shares of Series A Perpetual Stride Preferred Stock with a non-cumulative dividend of 10 percent. These shares are marketed for $85 per share, and are projected to generate net funds of around $979 million after cutting costs and commissions. The offer is designed to attract institutional investors looking for fixed returns, while supporting Strategy's ambitions in continuing to accumulate Bitcoin.
With such a large number, Strategy is now the largest Bitcoin holder publicly known, even surpassing the Bitcoin reserves owned by the governments of the United States and China combined. Their ownership is also almost 12 times larger than the second-largest Bitcoin mining company, Mara Holdings.
Saylor's steps in recent years have made Strategy not just a technology company, but also a symbol of corporate exposure to the world's largest crypto assets. With this latest signal, the public is also preparing to welcome the official announcement of the purchase of the next Bitcoin which could again shake the market.
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