Bitcoin rose on Sunday as signs of easing US-China trade tensions lifted risk assets, while Strategy’s founder hinted the company continued to add to his shares. Bitcoin ownership.
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Strategy continues to buy
Michael Saylor posted a chart on October 26 that uses orange dots to highlight recent purchases. The visual cue has become his shorthand for new purchases.
Based on reports, Strategy added 387 BTC between October 13 and 20, bringing the total to 640,418 BTC. That number is striking in itself. It demonstrates a steady, purposeful purchasing approach, even when prices are volatile.
The strategy has disclosed its average cost Bitcoin stands at $74,010. The company’s moves have been small lately compared to September, when it raised over 7,000 BTC through several large transactions. The size of any new purchases this week has not been publicly disclosed.
At the same time, Bitcoin’s market movements were influenced by broader news. Bitcoin’s price rose about 1.6% on Sunday, while Ethereum gained about 2.8%. Short-term fluctuations seem to be driven more by headlines than by the actions of a single company.
It is Orange Dot Day. pic.twitter.com/5FSGmxwoNS
— Michael Saylor (@saylor) October 26, 2025
Ownership, valuation and track record
Based on reports, Strategy’s Bitcoin supply at prices of just over $115,000 per BTC is valued at around $72 billion. That valuation implies a paper profit of more than $25 billion on a total cost base of approximately $47.4 billion since the program’s inception in 2020.
Reports have recorded 83 separate purchase events in that time, a pattern that has given investors a clear picture of the company’s playbook: buy repeatedly, then report.
Some of the purchases took place in September, when the company added thousands of coins in a few big moves. Lately, however, the allocations seem smaller and more frequent. This shift suggests a preference for steady accumulation rather than a few big bets.
Buying behavior and market reaction
Strategy stocks traded above the company’s intrinsic value. That fact suggests that investors may feel comfortable owning MSTR as a way to gain Bitcoin exposure without purchasing the token directly. The company’s method – announcing purchases after the fact and letting the market reflect the assets – was consistent and predictable.
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Geopolitical headlines cause volatility
Meanwhile, officials from the US and China showed progress in trade negotiationsand that helped calm some investors. According to reports, Scott Bessent told CBS News that he expected the threat of 100% tariffs and an immediate export control regime to have diminished.
Earlier in October, China announced stricter restrictions on the export of rare earth metals used in chip production. On October 11, US President Donald Trump said he would impose an additional 100% tariff on Chinese goods and planned export controls on certain software to take effect on November 1.
Those days of sharp rhetoric caused heavy losses in the markets and triggered one of the largest liquidation events in crypto this year.
Featured image of Gemini, chart from TradingView