Geopolitics Alpha

‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC

Published . Updated .

Strategy's total holdings account for around 4% of the 21 million bitcoin supply cap — worth roughly $70 billion.

Directly affected

  • FNCTF Orange

    Named in this report.

  • MSTR Strategy

    Named in this report.

Indirectly affected

  • IBIT iShares Bitcoin Trust

    This price moves with the crypto market

  • COIN Coinbase

    The crypto exchange moves with trading volumes

  • MARA MARA Holdings

    Bitcoin miners move with the bitcoin price

  • RIOT Riot Platforms

    Bitcoin miners move with the bitcoin price

  • HOOD Robinhood

    Retail trading apps move with crypto volumes

  • BITX 2X BITCOIN STRATEGY ETF

    GA selected BITX as a RELATED security because its canonical security name directly matches this event's themes: strategy, bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.

  • BITB BITWISE BITCOIN ETF TR

    GA selected BITB as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.

  • BITU PROSHARES ULTRA BITCOIN ETF

    GA selected BITU as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.

  • GBTC GRAYSCALE BITCOIN TRUST ETF

    GA selected GBTC as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.

  • NVDY YIELDMAX NVDA OPTION INCOME STRATEGY ETF

    GA selected NVDY as a RELATED security because its canonical security name directly matches this event's themes: strategy. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
FNCTF———————
MSTR———————
IBIT———————
COIN———————
MARA———————
RIOT———————
HOOD———————
BITX———————
BITB———————
BITU———————
GBTC———————
NVDY———————

Strategy's total holdings account for around 4% of the 21 million bitcoin supply cap — worth roughly $70 billion.

Source: The Block

The price since 28 Sep 2026: 2X Bitcoin Strategy Etf (BITX) versus the S&P 500

Since the first closing price after “‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC,” 2X Bitcoin Strategy Etf (BITX) is -5.18%. The S&P 500 fund (SPY) is +0.29% over the same days, a -5.47% difference versus the market.

BITX
SPY

Who gains and who loses around 2X Bitcoin Strategy Etf (BITX)

Companies mentioned with this story

  • BITX 2X Bitcoin Strategy Etf

    2X Bitcoin Strategy Etf (BITX) is linked, with no stored direction, medium confidence in the 28 Sep 2026 story “‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC.” Reason on file: GA selected BITX as a RELATED security because its canonical security name directly matches this event's themes: strategy, bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

  • BITB Bitwise Bitcoin ETF

    In “‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC,” Bitwise Bitcoin ETF (BITB) is linked, with no stored direction, medium confidence. Reason on file: GA selected BITB as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

  • BITU Proshares Ultra Bitcoin Etf

    In “‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC,” Proshares Ultra Bitcoin Etf (BITU) is linked, with no stored direction, medium confidence. Reason on file: GA selected BITU as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

  • GBTC Grayscale Bitcoin Trust ETF

    Grayscale Bitcoin Trust ETF (GBTC) is linked, with no stored direction, medium confidence in the 28 Sep 2026 story “‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC.” Reason on file: GA selected GBTC as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

  • IBIT iShares Bitcoin Trust ETF

    For “‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC,” iShares Bitcoin Trust ETF (IBIT) is linked, with no stored direction, medium confidence. Reason on file: GA selected IBIT as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

  • NVDY Yieldmax Nvda Option Income Strategy Etf

    Yieldmax Nvda Option Income Strategy Etf (NVDY) is linked, with no stored direction, medium confidence in the 28 Sep 2026 story “‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC.” Reason on file: GA selected NVDY as a RELATED security because its canonical security name directly matches this event's themes: strategy. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

2X Bitcoin Strategy Etf (BITX)

“‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC” (28 Sep 2026) reaches 2X Bitcoin Strategy Etf (BITX) through this story.

What ties 2X Bitcoin Strategy Etf (BITX) to the headline is this: GA selected BITX as a RELATED security because its canonical security name directly matches this event's themes: strategy, bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

Also listed, Bitwise Bitcoin ETF (BITB): GA selected BITB as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

Dates and price levels for 2X Bitcoin Strategy Etf (BITX)

BITB traded between 43.26 and 47.30 across 20 sessions. The latest close on file is 44.34. BITU traded between 13.70 and 16.49 across 20 sessions. The latest close on file is 14.38. BITX traded between 17.70 and 21.33 across 20 sessions. The latest close on file is 18.59.

How strong the case is around 2X Bitcoin Strategy Etf (BITX)

46 out of 100

“‘Even more orange’: Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.