Michael Saylor, chairman of Strategy, indicated potential new Bitcoin purchases are imminent as the company prepares for an important proxy vote involving dividend payments on its STRC perpetual preferred stock. His social media post, showing Bitcoin acquisition trends, suggests the firm may soon announce additional BTC acquisitions at or below their average purchase cost.
Currently, Strategy holds 843,738 Bitcoins with an average cost of about $75,701 each. Despite Bitcoin’s recent price decline during the month, trading around $73,566 at the time of Saylor’s tweet, the company appears positioned to continue increasing its Bitcoin treasury.
Simultaneously, Strategy is seeking shareholder approval to shift dividend payments on STRC shares from monthly to semi-monthly schedules. This proposal aims to reduce reinvestment lag, improve liquidity, boost market efficiency, and stabilize pricing. To pass, the amendment requires the affirmative vote of at least half of the 85 million shares outstanding, emphasizing the significance of retail investors’ participation in the upcoming vote scheduled before June 7.
Despite this, retail shareholder engagement remains limited. Data from a Harvard Law School report highlights that retail investors typically vote less than a third of their shares during proxy seasons, compared to institutional investors who vote over three-quarters. Strategy’s investor relations team has actively communicated the details of the proxy proposals internally and externally, underscoring the critical role every vote plays.
Industry voices, including Blockstream CEO Adam Back, have noted long-term technical signals in Bitcoin’s price, such as the 200-week moving average surpassing $61,000, which some view as a bullish indicator. This context adds weight to Strategy’s continued investment approach.