Michael Saylor Sparks Curiosity with New ‘Green Dots’ on Bitcoin Chart

Michael Saylor Sparks Curiosity with New ‘Green Dots’ on Bitcoin Chart – What Do They Indicate?

Billionaire Michael Saylor has stirred up interest in the cryptocurrency world by sharing a Bitcoin chart featuring a new set of enigmatic green dots. This has led to discussions about their significance and potential implications for market trends. As the CEO of MicroStrategy, Saylor's insights could signal future buying strategies amid fluctuations in Bitcoin prices.

Key Takeaways

Michael Saylor shared a Bitcoin chart with new mysterious green dots that raised questions in the crypto community.
The chart reveals MicroStrategy has made 87 purchases, totaling 649,870 BTC worth approximately $59.45 billion at an average price of $74,433 each.
The green dots indicate the average purchase price for MicroStrategy's Bitcoin, which adjusts with each new acquisition.
Despite gains in Bitcoin holdings, MicroStrategy's stock has seen significant declines, raising concerns over Saylor's long-term strategy.
The company has opened the possibility of selling Bitcoin under specific market pressures, a notable shift from previous positions.

Michael Saylor Sparks Curiosity with New ‘Green Dots’ on Bitcoin Chart – What Do They Indicate?

Understanding MicroStrategy’s Bitcoin Chart

Michael Saylor has generated renewed speculation in the crypto market after he displayed a Bitcoin chart that included a series of unfamiliar green dots. These dots have prompted traders and investors to inquire about their meaning and whether they denote a new surge in buying activity.

The chart showcased MicroStrategy's recent data, highlighting that the company has made 87 distinct purchase transactions, resulting in total holdings of 649,870 BTC, valued at about $59.45 billion, with an average buying price of $74,433 per coin.

In the chart, orange dots represent individual accumulation events since 2020, while the newly introduced green dotted line quickly caught the eye of traders seeking to understand its significance.

Insights on MicroStrategy’s ‘Green Dot’ Metric

What the Green Dots Represent

Analysts quickly clarified that the green dotted line on the chart symbolizes MicroStrategy's average purchase price. This figure is rolling and updates only with new Bitcoin acquisitions. It provides insight into the company's fluctuating acquisition costs rather than predicting Bitcoin's market value.

As MicroStrategy acquires more Bitcoin, this line adjusts based on whether they buy at prices above or below the previous average. Since the company holds substantial amounts of Bitcoin, some buying decisions have led to significant shifts in the line—especially between 2024 and 2025, when the firm increased its purchases as Bitcoin approached the $100,000 mark.

Bitcoin Price Performance

The chart confirms that MicroStrategy's Bitcoin portfolio remains in the black, showing a 22.9% increase as of November 30. Bitcoin prices fluctuated between $95,000 and $110,000 in late 2025, keeping the company well above its average purchase price of $74,433.

However, while these holdings show increases and the 'green line' implies further aggressive buying according to certain analysts, MicroStrategy's stock has diminished significantly—more than 60% from its recent peaks. This gap has sparked discussions regarding the sustainability of Saylor’s strategy over the long term.

MicroStrategy Signals Potential Bitcoin Sales Amid Market Challenges

A Change in Messaging

In a notable shift from previous declarations of “never sell,” MicroStrategy has discreetly acknowledged that selling Bitcoin could be considered if the market conditions become challenging.

CEO Phong Le stated that the company would think about divesting portions of its Bitcoin holdings only if two criteria are met simultaneously: the market-to-net-asset-value ratio must fall below one and the inability to raise new capital.

Le expressed his reluctance to be the executive who sells Bitcoin but emphasized the necessity for financial prudence in a turbulent market. He outlined a scenario where partial sales of the treasury may be warranted to maintain “Bitcoin yield per share,” especially if issuing new shares becomes less favorable than liquidating a small amount of BTC.

Currently, the company’s market-to-net-asset-value ratio stands at 1.01 but has shown instability throughout 2025.

MicroStrategy Market Ratio

Earlier this year, this ratio reached as high as 3.3 but dipped below 1.0 by mid-November—the first instance since MicroStrategy began acquiring Bitcoin. A ratio under one indicates that the market values the company at less than its Bitcoin assets, diluting its ability to raise capital cheaply.

Le warned that if the company cannot secure cash while operating below that threshold, selling its Bitcoin becomes a last resort.

MicroStrategy's Robust Fundraising Amid Bitcoin's Volatility

Despite the looming challenges, MicroStrategy has successfully raised $21 billion in 2025, nearing its total from 2024. The company secured $11.9 billion through common equity, $6.9 billion via preferred equity, and $2 billion through convertible debt across seven different securities.

MicroStrategy Fundraising Overview

Investor interest remains high, despite the firm incurring approximately $800 million annually in dividend obligations tied to preferred shares. Le noted that the intent is to cover these obligations with capital raised at a premium. He added that consistent performance in dividend payments is crucial for fostering confidence among investors.

Additionally, in response to volatility in the market, MicroStrategy unveiled a new “BTC Credit” dashboard last week to reassure its investors about the company’s position.