MicroStrategy signals potential Bitcoin purchase amid oil price surge and Fed rate uncertainty

MicroStrategy executive Michael Saylor posted a chart on Sunday indicating room for further Bitcoin accumulation, despite October oil prices reaching $117.64 a barrel and U.S. inflation holding at 3.7%. With two Federal Reserve officials favoring a rate hike and the Fed maintaining rates at 3.75%-4%, Saylor reiterated the company's belief in a new Bitcoin bull market. As of Sunday, MicroStrategy held 848,517 BTC worth approximately $66 billion, though its paper profit has narrowed against $64 billion in purchase costs. The company paused Bitcoin buying in October to spend $204.9 million repurchasing preferred shares and sold 5,552 BTC in Q3 to pay dividends, with its Bitcoin-per-share metric falling 3.7% this year.