Michael Saylor Hints at Major Bitcoin Purchase Amid Dividend Proposal
Saylor teases 'bigger' BTC buy days after floating semi-monthly dividends
Cointelegraph
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Michael Saylor, co-founder of Strategy, hinted at a significant Bitcoin purchase shortly after the company revealed a $1 billion acquisition of 13,927 Bitcoin. This follows a proposal to increase dividend payments to shareholders from monthly to semi-monthly, aimed at stabilizing demand and price.
- 01Michael Saylor hints at another large Bitcoin purchase.
- 02Strategy recently acquired 13,927 Bitcoin for $1 billion.
- 03The company proposes to pay dividends semi-monthly to stabilize demand.
- 04Strategy holds the largest Bitcoin stash among publicly traded companies.
- 05The stock price of Strategy increased by 11.8% following these announcements.
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Michael Saylor, co-founder of Strategy, has teased another significant Bitcoin purchase just a week after the company disclosed acquiring 13,927 Bitcoin for $1 billion between April 6 and 12, at an average price of $71,902 per coin. On social media, Saylor encouraged followers to 'Think Even βΏigger,' suggesting a forthcoming announcement regarding another purchase. This follows the company's proposal to shift dividend payments from monthly to semi-monthly, aiming to stabilize the stock price and boost demand. Strategy CEO Phong Le stated that the new schedule would help address the drop in demand after dividend eligibility ends, which has previously cooled buying activity. The proposal includes paying dividends on $STRC stock on the 15th and at the end of each month, totaling 24 payments a year at a rate of 11.5%. Strategy currently holds 780,897 Bitcoin, valued at approximately $58.2 billion, making it the largest Bitcoin holder among publicly traded companies. Despite this, the company reported unrealized losses of $14.46 billion on its digital assets in its recent financial results.
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The proposed changes to dividend payments may attract more investors to Strategy's stock, potentially stabilizing its price and increasing liquidity in the market.
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