Why the bot decided this
Strategy bought 267 Bitcoin for $22.1 million, while MSTR rebounded after a 9.5% selloff tied to MSCI index risk.
The article
Michael Saylor 'Found More Room for Orange' as Strategy Adds 267 Bitcoin Strategy (NASDAQ:MSTR) bought 267 Bitcoin (CRYPTO: BTC) for $22.1 million last week, extending its buying streak even as the stock battles fresh pressure from MSCI index risk. Strategy disclosed in a Monday filing that it purchased the Bitcoin between Oct. 12 and Oct. 18 at an average price of $82,900 per coin. The company funded nearly the entire buy by selling 140,872 MSTR shares through its at-the-market program, covering the remaining $100,000 from cash on hand. Total holdings now stand at 848,517 BTC, acquired for roughly $64.02 billion at an average price of $75,446 per coin. Strategy spent far more on preferred stock than Bitcoin last week, using $193.1 million to repurchase 1.94 million shares of its STRC preferred stock. The board also raised the digital credit securities repurchase program from $2 billion to $3 billion, leaving $1.16 billion available after completed buybacks. As of Oct. 18, Strategy held $4.83 billion in its US dollar reserve and $447.3 million in additional cash, after using $45.5 million from the reserve to pay preferred-stock dividends. Saylor’s Weekend Posts Keep Teasing the Buys Strategy Executive Chairman Michael Saylor posted on X Sunday that “we found room for more orange,” echoing a near-identical post from the Sunday before, “there’s always room for more orange,” which also preceded that week’s purchase announcement. As Benzinga reported, Strategy bought 250 BTC for $21.5 million the prior week, meaning Saylor’s weekend posts have now preceded two straight Monday purchase disclosures. Where MSTR Stands Technically After MSCI Pressure .benzinga-widget#bz-embed-widget-block_cfebb6828bef9f24f49d38cf6cb12da7 iframe.w-full { width: 100%; } MSTR fell 9.5% last Friday after MSCI approved rules that could exclude Strategy from its indexes, raising concerns about forced selling from passive funds tracking those benchmarks. The stock rebounded 2% in Monday’s premarket trading, putting it just above its 50-day EMA at $139.50, though it remains below its 20-day and 200-day EMAs at $149.71 and $152.83. Those levels form the next resistance zone after repeated rejections at the stock’s descending trendline. Key levels for MSTR: $135: 100-day EMA, immediate support $130: potential downside target if $134 fails Photo via Shutterstock Read Also: Bitcoin, Ethereum, XRP Face Rebound From ‘Black Monday’ Fears