Michael Saylor teased another large Bitcoin purchase on May 17 with a 'Big Dot Energy' post — the latest signal that Strategy (formerly MicroStrategy) is still stacking coins. Independent tracker Strc.live estimates roughly 15,466 BTC were funneled into Strategy purchases across four active trading days last week.
If confirmed in Monday's 8-K filing, the haul would push the company's total holdings past 834,000 BTC — bought at an average cost of roughly $75,543 per coin. The timing isn't accidental: Strategy just wrapped up a $1.5 billion repurchase of its 2029 convertible notes, settling around May 19, freeing up more balance-sheet firepower.
STRC Preferred Share Volume Shatters Records
On Thursday, May 15, trading in Strategy's STRC preferred shares hit an all-time high of 15.1 million shares. The surge came as the company announced it would ask holders to approve shifting the 11.5% annual dividend from monthly to semi-monthly payouts — a move that would accelerate cash returns to a mostly retail investor base. Roughly 80% of STRC is held by individuals across Charles Schwab, Fidelity, and Robinhood.
The record volume suggests retail appetite for the preferred shares is strong, even as the underlying Bitcoin price has been volatile this quarter. But the dividend change, if approved, would mean more frequent payments — a perk for the broker crowd that now dominates the shareholder register.
What’s in Monday’s Filing
Investors are waiting for the 8-K that should confirm the actual Bitcoin purchase amount — the Strc.live estimate of 15,466 BTC is just that, an estimate. The filing will also detail the convertible note repurchase and could provide the first official word on the dividend vote timeline.
Strategy holds 818,869 BTC as of its last public count, but that number is about to jump. The company has been buying consistently through dips this year, and Saylor's social-media teases have become a reliable precursor to a filing. Last week's four-day buying spree would be among the largest single-week additions in 2026.
A Dividend Question for Retail Holders
The proposed switch from monthly to semi-monthly STRC dividends isn't just a scheduling change — it's a liquidity preference. Retail investors who have piled into the preferred shares as a yield play would get cash twice a month instead of once. The company hasn't set a vote date yet, but the 8-K may include a record date for the special meeting.
One open question: whether the accelerated dividend schedule could pressure Strategy's cash flow if Bitcoin prices stall. The company's Bitcoin bet has always been leveraged through debt and equity, and the preferred shares carry a hefty 11.5% coupon. More frequent payments mean less cash buffer between buys. But Saylor has shown he's willing to keep the machine running.
The 8-K is due Monday, May 19 — one day after Saylor's latest tease. Expect the headline BTC number, the note repurchase details, and maybe a hint at what comes next.
