Strategy's Michael Saylor Signals No Halt To Bitcoin Purchases Despite Plunge Below $100,000: Peter Schiff Asks Who Else Is Buying The Dip

Strategy Inc. MSTR co-founder and executive chairman Michael Saylor hinted at more Bitcoin BTC/USD purchases Sunday, despite the apex cryptocurrency's dip below $100,000 due to escalating Middle East tensions.

What happened: Saylor posted a chart that tracks the company’s Bitcoin purchases on X, with the caption, “Nothing Stops This Orange.”

Saylor has been writing such cryptic Sunday posts for several months now, and they nearly always precede Bitcoin purchases the following Monday.

Last week, his Bitcoin holding company increased its treasury to 592,100 BTC following a $1 billion purchase funded primarily through a preferred stock offering. The total value of the stash was worth nearly $60 billion as of this writing, marking an unrealized gain of 43%.

Peter Schiff, economist and vocal Bitcoin critic, weighed in, asking who else is "buying the dip below $100k?"

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Why It Matters: Cryptocurrencies and stocks were sent into a tailspin after the U.S. attacked Iran Saturday, prompting the Middle Eastern country to consider closing the Strait of Hormuz, the world’s most sensitive oil shipping chokepoint.

While Bitcoin recovered following a plunge below $99,000, the sentiment remains grim. Cryptocurrency bettors saw a 31% probability that Iran would close the Strait of Hormuz before July.

Price Action: At the time of writing, BTC was exchanging hands at $101,300.56, down 1.18% in the last 24 hours, according to data from Benzinga Pro.

Shares of Strategy closed 0.18% higher at $369.70 during Friday's regular trading session.

MSTR demonstrated a very high momentum score—a measure of the stock’s relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing. To filter similar high-momentum stocks for your portfolio, visit Benzinga Edge Stock Rankings for more details.