Saylor Hints at New MicroStrategy Bitcoin Purchase
Michael Saylor hinted at another large Bitcoin purchase after MicroStrategy disclosed buying 13,927 BTC for about $1 billion and proposed semi-monthly preferred-stock dividends.
MicroStrategy co-founder Michael Saylor hinted at another large Bitcoin purchase after the company disclosed it bought 13,927 BTC for about $1 billion between April 6 and April 12 at an average price of $71,902 per coin.
The purchase was filed with the U.S. Securities and Exchange Commission on Monday. Saylor posted “Think ₿igger” the day before the filing and later posted “Think Even ₿igger” on X with a chart of the company’s purchase history.
The firm holds 780,897 Bitcoin, worth roughly $58.2 billion, according to Bitbo data. MicroStrategy has been one of the most active public buyers of Bitcoin.
MicroStrategy advanced a proposal to change dividend payments on its Class A convertible preferred stock (STRC) from monthly to semi-monthly while keeping the annual dividend rate at 11.5%. A preliminary proxy was filed with the SEC on Friday and the company expects to file the definitive proxy on April 28.
Voting on the proposal will open with the definitive proxy and close at MicroStrategy’s annual meeting on June 8. If shareholders approve, the semi-monthly schedule would begin in mid-July.
In a video presentation to shareholders, CEO Phong Le said the board plans to pay dividends twice each month, on the 15th and at the end of the month, for a total of 24 payments per year. “What do we think this will do, it should stabilize the price, dampen cyclicality, drive further liquidity and grow demand,” he said.
Le noted the company considered weekly and daily record dates before selecting the semi-monthly option and cited Nasdaq rules that require at least ten days between a record date and a payment date.
MicroStrategy’s stock, trading under the ticker MSTR, rose 11.8% on Friday to $166.52. The shares remain down more than 47% over the past year.
In its first-quarter results earlier this month, MicroStrategy reported $14.46 billion in unrealized losses on digital assets. The company has continued making regular Bitcoin purchases alongside those reported losses.
Saylor’s social posts and the company’s purchase-history charts have in previous instances been published shortly before additional purchase filings.
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