Chief Strategy Officer Michael Saylor noted on Sunday that the Bitcoin treasury company would buy more cryptocurrencies in the coming week while also encouraging retail shareholders to vote on a proxy measure that would allow biweekly dividend payments on the company’s STRC perpetual preferred stock.
“Big Dot Energy” was Saylor’s tweet on Sunday morning to accompany a bubble chart tracking Strategy’s BTC purchases over the past nearly six years. Saylor has consistently published that chart, from Iceland-registered StrategyTracker.com, in the days leading up to a corporate takeover.
Saylor’s “Big Dot Energy” message on Sunday. Fountain: Michael Taylor on X.com
A buy this week would be based on Strategy’s current 818,869 Bitcoin holdings, which had a combined market capitalization of approximately $67.2 billion based on a market price of $77,996.91 at the time of publication, according to StrategyTracker.com.
In addition to the buy signal, Saylor and Strategy’s official social media channels showed posts encouraging retail shareholders, who own 80% of the company’s Stretch Perpetual Preferred Stock (STRC), to vote on a proxy measure that would allow the company to make biweekly payments to STRC shareholders.
Related: STRC preferred stock investors are mispricing significant ‘dislocation’ risk: analyst
Emphasize that dividend amendment is for retail holders, proxy voting is not a sure bet
The strategy proposes paying biweekly dividends to STRC, instead of monthly. The company claims that if approved and adopted, it will lead to reduced reinvestment lag, increased liquidity, greater market efficiency and greater price stability.
Three weeks before the June 8 proxy voting deadline, Saylor and Strategy are doing everything they can to get retail shareholders to return their proxy votes.
“If you are a $STRC shareholder and have not yet voted, please take a moment to do so now. Together, we can make history and set the $100 standard for digital credit,” reads another of Saylor’s Sunday posts on X.
The company’s feed acknowledged the size and importance of retail investors. “80% of $STRC is in the hands of retail investors. This amendment is for you. Vote for STRC to pay bi-weekly dividends. Your vote matters. Make it count,” the post reads.
One of several posts on Strategy’s official feed following the proxy vote. Fountain: Strategy on X.com
To be sure, retail investors have shown limited interest in casting proxy votes. A November research note from Harvard Law School’s Forum on Corporate Governance revealed data showing that retail investors have consistently voted only about 29% of the stocks they own over the past five proxy voting seasons. Institutional holders have voted around 77%.
The strategy is not to take risks.
It has rescheduled a live Q&A session for retail investors with Saylor and CEO Phong Le for May 20 at 5 ET. The session, scheduled to be moderated by Natalie Brunell, host of the Coin Stories podcast. The Q&A will be streamed live on YouTube and on X. Shareholders are invited to submit questions in advance of the session.
Magazine: Big questions: Can Bitcoin save you from the dreaded Cantillon effect?
