Strategy Executive Chairman Michael Saylor and Strive CEO Matt Cole have signaled interest in buying more Bitcoin after the cryptocurrency fell toward $62,000, even as mining company MARA has
Strategy Executive Chairman Michael Saylor and Strive CEO Matt Cole have signaled interest in buying more Bitcoin after the cryptocurrency fell toward $62,000, even as mining company MARA has reported substantial BTC sales.
SummaryIn separate Sunday posts on X, Saylor wrote, “This dip could use a little orange.” Shortly afterward, Cole declared, “Bitcoin’s cheap, we want more.” Their remarks followed purchases disclosed by both companies on November 9, when Bitcoin was trading considerably higher.
At press time, Bitcoin price had recovered to $65,500, according to crypto.news market data, after falling to $62,081 earlier on Sunday. The recovery left the flagship cryptocurrency well below the prices paid in the companies’ most recent reported acquisitions.
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Saylor has frequently posted brief messages before Strategy’s weekly Bitcoin purchase disclosures. On November 8, he shared an accumulation chart with the words “Connecting the dots,” raising expectations of another acquisition.
The company subsequently confirmed the purchase. As crypto.news previously reported, Strategy bought 1,036 BTC between November 2 and 8 for $81.9 million, paying an average of $79,012 per coin.
According to its November 9 SEC filing, the transaction increased Strategy’s holdings to 850,364 BTC, acquired for approximately $64.16 billion at an average price of $75,456.
Strategy funded the purchase through sales of its MSTR common stock. During the same reporting period, the company used another $188.3 million from stock sales to repurchase STRC preferred shares and allocated $13.6 million to cash.
At $65,500, Bitcoin was trading around 17% below Strategy’s latest purchase price and 13% below its overall acquisition average.
Saylor’s November 15 message did not specify whether another transaction had been completed. Any subsequent acquisition would require a new disclosure establishing its size, purchase price and financing arrangements.
Cole’s latest comments suggested that Strive remained interested in accumulating Bitcoin despite the market decline. The company had already been buying throughout October and early November, although its most recent disclosed purchase was relatively small.
A November 9 filing showed Strive purchased 29 BTC for approximately $2.2 million between October 31 and November 6, at an average price of $75,721.
The acquisition increased its holdings from 43,124 BTC to 43,153 BTC. Strive reported $487.6 million in cash and cash equivalents as of November 6, down $2.8 million from October 30.
Strive has used equity and preferred-stock offerings to support its Bitcoin treasury. Its November 6 earnings announcement showed that an October offering of SATS preferred stock generated approximately $609 million in net proceeds.
Cole had expressed confidence in a Bitcoin recovery before Sunday’s statement. In a November 13 post, he compared Bitcoin’s decline ahead of Anthropic’s planned IPO with its performance around SpaceX’s June listing.
He suggested that a similar recovery could take Bitcoin toward $90,000 by late February 2027, although he acknowledged that historical market patterns rarely repeat exactly.
The buying signals arrive as other corporate Bitcoin holders have been selling reserves to meet financial obligations.
MARA Holdings disclosed the sale of 13,597 BTC for approximately $1.1 billion after the third quarter ended. The mining company used $750 million of the proceeds to repay Bitcoin-backed loans, releasing 17,477 BTC previously pledged as collateral.
MARA reported an average sale price of approximately $81,039 per Bitcoin. The transactions preceded the company’s November disclosure and were not necessarily executed during the latest market decline.
Unlike Strategy and Strive, whose recent announcements concerned acquisitions, MARA used part of its existing Bitcoin treasury to settle financing obligations.
The difference follows a difficult period for institutional demand. Farside Investors recorded approximately $1.91 billion in net withdrawals from US spot Bitcoin ETFs across seven consecutive trading sessions ending November 13.
While Saylor and Cole appeared interested in buying the decline, veteran trader Peter Brandt raised the possibility that Bitcoin’s longer-term rally had ended.
Brandt questioned whether Bitcoin’s weekly chart was forming a major bearish reversal pattern.
“Is this a legit H&S top in Bitcoin?” he asked, referring to a head-and-shoulders formation. He said a confirmed pattern could support a technical argument that Bitcoin’s previous all-time high might not be surpassed, “at least in my lifetime.”
Is this a legit H&S top in Bitcoin? If it is I can build a technical narrative that the ATH is in, not to be surpassed at least in my lifetime pic.twitter.com/yoBq2Gp9UK
— The Factor Report (@PeterLBrandt) November 15, 2026
The veteran trader did not declare the pattern complete. His warning depended on whether Bitcoin confirmed the formation, which typically consists of three peaks followed by a breakdown below its neckline.
The chart placed Bitcoin near the $60,000–$65,000 region, where traders were examining a possible neckline. Bitcoin last recorded an all-time high above $126,000 in October 2025.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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