Saylor's Cryptic Hint Sparks Doubts: Will Strategy Cut More Bitcoin Losses?

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Strategy Chairman Michael Saylor posted a chart of the company's Bitcoin portfolio on X with the brief caption: "The orange dots tell only part of the story." Advertisement Saylor's rhetoric used to be unequivocally bullish, but now he is openly teasing his audience and ambiguously suggesting that there is more behind the familiar chart of purchases. Orange dots tell only part of the story. pic.twitter.com/HFZd2z7fus — Michael Saylor (@saylor) July 12, 2026 Why the market expects sales rather than new purchases Saylor's hint came at a time when his company found itself in a vulnerable position for the first time. The screenshot he posted clearly shows the portfolio's current financial performance: the average purchase price stands at $75,476, while the return has fallen to -15.41%, representing an unrealized loss of nearly $10 billion. Advertisement With the portfolio this deep in the red and free dollar liquidity running low, the company simply does not have the resources for another round of aggressive purchases. HOT Stories Why XRP AI Economy Should Be Calculated in Billions; $500,000 Bitcoin Prediction by China's Mining Vet; Robinhood Flips Ethereum in On-Chain Volume - Morning Crypto Report 'Unsavable': Lawyers Told Ripple Execs to Abandon Company CryptoQuant analyst Maartunn published a chart showing Strategy's "Buys & Sells" and directly asked: "Does this mean we are about to see more selling at the bottom?" Strategy's buys and sells of Bitcoin, Source: Maartunn via CryptoQuant The CryptoQuant data clearly visualizes what Saylor is leaving unsaid: the orange purchase dots on the chart have been completely replaced by red sale markers. Advertisement You Might Also Like Sun, 07/12/2026 - 12:11 Why XRP AI Economy Should Be Calculated in Billions; $500,000 Bitcoin Prediction by China's Mining Vet; Robinhood Flips Ethereum in On-Chain Volume - Morning Crypto Report By Gamza Khanzadaev The largest of these was the recent sale of 3,588 BTC for $216 million, which took place near Bitcoin's local low of around $60,000 . The fact that Saylor realized a net loss points to the forced nature of the transaction: the company urgently needed fiat cash to service its high-yield Stretch preferred stock, STRC, with a fixed 12% rate. Strategy used to be a "concrete floor" for the market. Investors knew that Saylor would only buy and support the price during downturns. Now, with 843,775 BTC remaining on the company's balance sheet and its founder issuing vague hints amid a real depletion of dollar reserves, that status has changed. The main question for the market now is whether this will become a regular practice and at what price the company will sell its next tranches. #Michael Saylor #Bitcoin News