Strategy Chairman Michael Saylor on Sunday signaled that the Bitcoin treasury firm will make additional purchases of the cryptocurrency over the coming week and encouraged retailer shareholders to vote by proxy to enable semi-monthly dividend payments on the company’s STRC Perpetual Preferred Stock.
“Big Dot Energy” was Saylor’s tweet late Sunday morning, accompanying a bubble chart that tracks Strategy’s BTC purchases over the past nearly six years. This chart comes from StrategyTracker.com, an Icelandic company that has been consistently posted by Saylor prior to the company’s acquisition.
Saylor’s “Big Dot Energy” message on Sunday. sauce: michael saylor At X.com
According to StrategyTracker.com, this week’s acquisition will build on Strategy’s current Bitcoin holdings of 818,869 Bitcoin, which has a market capitalization of approximately $67.2 billion, based on a market price of $77,996.91 at the time of publication.
In addition to buy signals, Saylor and Strategy’s official social media feeds included posts urging individual shareholders who own 80% of the company’s perpetual stretch preferred stock (STRC) to vote on a proxy that would allow the company to make semi-monthly payments to STRC shareholders.
Emphasis on dividend revision is for individual investors, proxy voting is not mandatory
Strategy proposes to pay STRC semi-monthly rather than monthly dividends. The company claims that if approved and adopted, this will lead to reduced reinvestment lags, enhanced liquidity, market efficiency and improved price stability.
With three weeks to go before the June 8 proxy voting deadline, Saylor and Strategy are doing everything they can to get individual shareholders to return their proxies.
“If you are a $STRC shareholder and haven’t voted yet, please vote now. Together, we can make history and establish a $100 standard for digital credit,” says another post on Saylor’s Sunday X.
The company’s feed acknowledged the scale and importance of retail investors. “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 post reads.
One of several posts encouraging proxy voting on Strategy’s official feed. sauce: strategy At X.com
To be sure, retail investors have shown limited interest in proxy voting. A November research note from the Harvard Law School Forum on Corporate Governance revealed data showing that retail investors have consistently voted only about 29% of their holdings over the past five proxy voting seasons. Institutional investors cast approximately 77% of the votes.
Strategy doesn’t take chances.
A live Q&A session for individual investors with Mr. Saylor and CEO Von Reh has been rescheduled for May 20th at 5:00 pm ET. This session will be moderated by Natalie Brunell, host of the podcast Coin Stories. The Q&A will be livestreamed on YouTube and X. Shareholders are invited to submit questions in advance of the session.
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