Saylor’s Big Dot Energy Chart Highlights MicroStrategy BTC
Michael Saylor posted a ‘Big Dot Energy’ chart on May 17 showing MicroStrategy holds 818,869 BTC, valued near $64.2 billion, renewing focus on a possible bitcoin purchase disclosure.
Michael Saylor posted an orange-dot chart titled ‘Big Dot Energy’ on May 17 showing MicroStrategy’s bitcoin purchases over time. The graphic marked larger acquisitions with oversized orange circles and listed total holdings at 818,869 BTC with a reserve value near $64.2 billion.
The chart’s largest circles corresponded to accumulation periods in late 2024 and 2025. MicroStrategy’s dashboard on May 17 showed bitcoin trading around $78,262 and bitcoin per share at about 213,391 satoshis. MicroStrategy’s stock traded near $177.42, with a market capitalization of roughly $62.31 billion and an enterprise value near $81.85 billion.
Traders follow Saylor’s orange-dot posts because similar charts preceded prior MicroStrategy purchase disclosures. The recent oversized purchase markers drew attention and renewed focus on whether the company will disclose additional bitcoin buys.
Options activity and volatility around MicroStrategy remained elevated. Open interest in options linked to the stock was about $49.49 billion. Implied volatility measured near 60%, while historical volatility was roughly 71% over the past 30 days and 69% over the last year.
MicroStrategy has proposed a change to the payment schedule for its STRC preferred shares, shifting dividend payments from monthly to semi-monthly. Shareholder voting on the proposal is open through June 8, 2026. If approved, the company expects to announce the first semi-monthly dividend on June 15, with the initial payment slated for July 15. STRC is a perpetual preferred share with an 11.50% annual dividend that adjusts monthly to help the share trade near its $100 par value. Company filings note that executives have issued STRC as a source of funding for bitcoin purchases.
MicroStrategy’s dashboard also listed $8.25 billion in debt, $13.54 billion in preferred stock, $2.25 billion in U.S. dollar reserves and annual dividends totaling about $1.49 billion. Net leverage was reported at 9% and estimated bitcoin dividend coverage at 43.1 years. On May 15 the company disclosed an agreement to repurchase roughly $1.5 billion of 0% convertible senior notes due 2029, identifying cash reserves, proceeds from securities sales and potential bitcoin sales among possible funding sources.
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