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 535 bitcoin last week for about 43 million dollars at an average price of 80,340 dollars per coin. The acquisition came days after the company signaled it might sell some holdings to fund dividends or retire debt. Executive chairman Michael Saylor said any such sales would have minimal net impact.
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, co-founder of Strategy, signaled that the company will buy more Bitcoin on Monday. The purchase would boost the firm's Bitcoin treasury holdings. Strategy is the world's biggest Bitcoin treasury company.
Strategy sold 32 bitcoin between May 26 and May 31 at an average price of $77,135, raising about $2.5 million. The company disclosed the transaction in an 8-K filing on June 1 and said the proceeds will fund distributions on its STRC perpetual preferred stock.
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Strategy sold 32 Bitcoin between May 26 and May 31 to fund preferred stock dividends. The sale, worth about $2.5 million, marks the company's first disposal of the asset since 2022. Bitcoin prices fell following the disclosure on June 1.
Strategy moved more than 411 Bitcoin to Coinbase Prime on May 29. The transfer has drawn scrutiny over the company's financing model amid shrinking cash reserves.
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BSTR co-founder Sean Bill said many bitcoin treasury companies lack proper capital structures and rely too heavily on bitcoin for messaging.