Michael Saylor hints at upcoming Bitcoin purchase while pushing STRC shareholders to vote on dividend frequency
On Sunday, Michael Saylor hinted at an imminent Bitcoin acquisition while simultaneously pushing retail shareholders to cast their votes on a proxy proposal that would allow STRC dividend distributions twice monthly.
On Sunday, Strategy's chairman Michael Saylor dropped hints that the Bitcoin treasury firm would be acquiring additional cryptocurrency in the coming days, while simultaneously pushing retail investors who hold shares to cast their ballots on a proxy proposal that would enable the company to distribute dividends twice per month on its STRC perpetual preferred stock.
Late Sunday morning, Saylor posted a tweet reading "Big Dot Energy" alongside a bubble chart that tracks Strategy's Bitcoin acquisitions spanning nearly six years. The chart, sourced from StrategyTracker.com which is registered in Iceland, has become a recurring feature in Saylor's social media posts in the days preceding corporate Bitcoin purchases.
Should a purchase occur this week, it would add to Strategy's existing stockpile of 818,869 Bitcoin, which carried a combined valuation of approximately $67.2 billion when calculated using a market price of $77,996.91 at the time of publication, per data from StrategyTracker.com.
Beyond signaling an upcoming purchase, social media accounts belonging to both Saylor and Strategy published messages urging retail investors, who collectively hold 80% of the company's Stretch perpetual preferred stock (STRC), to submit their votes on a proxy proposal that would authorize semi-monthly dividend distributions to STRC holders.
Stressing dividend amendment is for retail holders, proxy vote is not a shoo-in
The proposal from Strategy would shift STRC dividend payments from monthly to semi-monthly intervals. According to the company, approval and implementation of this change would result in diminished reinvestment lag, improved liquidity, greater market efficiency and heightened price stability.
With the June 8 proxy vote deadline now just three weeks away, both Saylor and Strategy are mounting an aggressive campaign to secure proxy vote submissions from retail shareholders.
"If you are a $STRC shareholder and have not already voted, please take a moment to do it now. Together, we can make history and establish the $100 standard for Digital Credit," stated another one of Saylor's posts on X published Sunday.
The company's official account posted recognition of retail investors' magnitude and significance. "80% of $STRC is held by retail investors. This amendment is for you. Vote for STRC to pay semi-monthly dividends. Your vote matters. Make it count," the message stated.
Without question, retail shareholders have demonstrated minimal engagement when it comes to casting proxy ballots. Data highlighted in a November research note published by The Harvard Law School Forum on Corporate Governance showed that retail investors have historically voted approximately 29% of their owned shares across the previous five proxy voting seasons. By comparison, institutional shareholders have voted roughly 77%.
Strategy is not taking any chances.
The company has moved a live Q&A session for retail shareholders featuring Saylor and CEO Phong Le to May 20 at 5 ET. The event is scheduled to be moderated by Natalie Brunell, who hosts the Coin Stories podcast. Both YouTube and X will carry the livestream of the Q&A. Shareholders have been asked to submit their questions in advance of the session.