TheBlock
Michael Saylor, Strategy's co-founder and executive chairman, posted the company's signature orange-dots bitcoin acquisition tracker to X on Sunday with the caption "A good time to add more dots" — a phrase that has historically preceded a Monday 8-K filing disclosing BTC acquired the preceding week. The framing went further than the usual teaser, explicitly positioning current prices in the low $60,000s as attractive. As of the firm's latest disclosure on May 31, Strategy held 843,706 BTC at an average purchase price of $75,699, a position now worth roughly $52.2 billion at prevailing prices and representing an unrealized loss of about $11.7 billion, or 18%.
Why it matters
The signal carries extra weight because it is the first such post since Strategy disclosed on June 1 that it sold 32 BTC between May 26 and May 31 — its first bitcoin sale since late 2022. The sale returned roughly $2.5 million at an average net price of $77,135 to fund a dividend on STRC, the firm's variable-rate perpetual preferred stock, and ended a streak that had defined Saylor's public posture. Saylor told interviewers in early May that Strategy would buy 10 to 20 bitcoin for every coin it sells, a ratio that a fresh purchase at current prices would roughly honor: the firm sold at $77,135 and is signaling at roughly 20% below that level.
Market impact
Sunday's post lands one day before Strategy's June 8 annual meeting, which closes voting on a proposal to shift STRC dividend payments from monthly to twice monthly — a change the company says matters because retail shareholders hold roughly 80% of outstanding STRC. The broader tape is weak: bitcoin fell below $61,000 last week after a stronger-than-expected May jobs report, and U.S. spot bitcoin ETFs logged 13 consecutive sessions of net outflows through early June, the longest streak since launch, before a brief $3M inflow on June 4 was followed by $325.7M of redemptions on June 5, per SoSoValue.
Frequently asked questions
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What did Michael Saylor post and what does it usually signal?
Saylor posted Strategy's orange-dots bitcoin acquisition tracker to X with the caption 'A good time to add more dots.' Such posts have historically preceded a Monday 8-K filing disclosing BTC acquired the preceding week.
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How much bitcoin does Strategy currently hold and at what average price?
According to Strategy's latest disclosure, the firm held 843,706 BTC at an average purchase price of $75,699 as of May 31 — worth roughly $52.2 billion at prevailing prices.
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How large is Strategy's unrealized loss on its bitcoin position?
Strategy is sitting on an unrealized loss of roughly $11.7 billion, or about 18%, on its bitcoin holdings as of late May.
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When did Strategy last sell bitcoin and why?
Strategy disclosed on June 1 that it sold 32 BTC between May 26 and May 31, its first bitcoin sale since late 2022. The 32 coins were sold at an average net price of $77,135 to fund a dividend on its STRC preferred stock.
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What is the June 8 Strategy annual meeting voting on?
The June 8 annual meeting closes voting on a proposal to shift STRC dividend payments from monthly to twice monthly. Strategy says retail shareholders hold roughly 80% of outstanding STRC shares, making retail turnout central to the outcome.
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