MicroStrategy founder Michael Saylor posted on social media on Sunday with a chart and the message “Orange dots tell only part of the story,” accompanied by a post that referenced previous signals preceding Bitcoin purchase announcements. The company disclosed on July 6 that it had sold $216 million of Bitcoin, reducing its total holdings to 843,775 tokens, according to a filing with the U.S. Securities and Exchange Commission. Earlier, Strategy unveiled a capital framework allowing Bitcoin sales to fund dividends on its STRC preferred stock, raised the annual dividend rate to 12%, and reported a US dollar reserve of $2.55 billion. Geoff Kendrick, global head of digital assets research at Standard Chartered, said the company’s recent actions and Saylor’s communication style are muddying the near‑term outlook for Bitcoin and may limit market confidence that wholesale selling is unlikely. He noted that clearer signaling could reassure investors and support Bitcoin’s price, potentially reducing the need for further BTC sales. The analyst also said that the firm’s long‑standing “never sell” stance had limited the flexibility of its Bitcoin holdings and that recent sales and a new monetization program represent a shift in communication strategy. MicroStrategy’s common shares, ticker MSTR, fell to $94.64 on Friday, a decline of more than 70% from the 52‑week high of $457.22, while its STRC preferred shares dropped to their lowest price since introduction. The company is scheduled to report second‑quarter earnings on July 30, with analysts projecting $4.28 per share; earnings have missed forecasts in six of the last eight quarters. StanChart maintains its $100,000 year‑end Bitcoin price target, but the effectiveness of the current messaging remains unclear.