Strategy chief Michael Saylor posted a social media message on Sunday morning teasing a pending bitcoin purchase.
Michael Saylor, chief of Strategy, shared the message of working better on X. The post teases an announcement of a bitcoin buy. This occurs days ahead of a proxy vote on the STRC stock dividend.
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Strategy purchased 1587 Bitcoin last week for about 100 million dollars. The company financed the acquisition by selling 1.7 million shares of its MSTR stock. Total holdings now stand at 846842 Bitcoin.
Michael Saylor, chairman of Strategy, posted on X to indicate that the Bitcoin treasury firm plans to purchase BTC this week. He also called on retail holders to participate in the STRC proxy vote.
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Michael Saylor shared a chart on Sunday indicating Strategy holds 847,363 Bitcoin worth about $50.9 billion. The post came as the company's stock continued to decline amid questions over its funding approach.
Strategy acquired 24869 bitcoin last week in a purchase valued at 2.01 billion dollars. The transaction was funded largely through sales of its preferred stock. The move increased the firm's total holdings to 843738 bitcoin.
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Strategy is approaching the $28 billion issuance limit on its STRC preferred stock, yet the company continues to convert investor demand into spot bitcoin buys through a monthly funding cycle. Recent data shows purchases slowed after April's peak but remain active ahead of this week's ex-dividend deadline.
Strategy, the largest corporate holder of bitcoin, reported a $12.77 billion net loss for the first quarter while its bitcoin holdings grew. Chief executive Michael Saylor signaled the company may sell some of its bitcoin to stabilize the market.
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Strategy sold 2.71 million shares of its common stock last week to raise $335.5 million, directing most of the proceeds into cash reserves rather than Bitcoin purchases. The move lifted the company's US dollar holdings to $1.4 billion while adding only 520 Bitcoin. The action followed a sharp drop in the price of its STRC preferred shares.