Late Sunday night, Michael Saylor posted a six-word tweet: “Think Even ₿igger,” accompanied by a chart showing Strategy’s BTC acquisitions since 2020. Markets quickly interpreted it as a teaser for another large Bitcoin purchase announcement. A week earlier, Saylor used “Think ₿igger” ahead of a $1 billion buy of 13,927 BTC at $71,902 each. The addition of “Even” suggests an even larger round is coming.
From 'Think ₿igger' to 'Think Even ₿igger': Signal Escalation
CoinTelegraph noted the timing lines up with the previous buy’s one-week mark. Analysts expect Strategy to disclose its latest holdings on Monday (April 20), possibly updating the total to 807,274 BTC. The company currently holds 780,897 BTC valued at roughly $58.2 billion per Bitbo data, making it the largest corporate BTC holder globally. MSTR shares surged 11.8% on Friday to $166.52, riding on anticipation of fresh buying.
STRC Semi-Monthly Dividend: Tuning the Funding Machine
Beyond the buy side, Strategy filed a preliminary proxy with the SEC on April 17 to change STRC preferred stock dividend frequency from monthly to semi-monthly — payments on the 15th and last day of each month, 24 times a year, keeping the annualized yield at 11.5%.
CEO Phong Le explained in a shareholder video: “Once the monthly dividend date passes, the number of eligible investors drops sharply, buying cools, and new stock sales slow.” He called it a structural flaw in the monthly system, and semi-monthly payments would halve the demand gap. Le noted that if shareholders approve, STRC would be the world’s only semi-monthly preferred stock — “a unique and attractive position.” The team also considered weekly or daily payouts, but NASDAQ rules require at least 10 days between ex-dividend and payment dates, making semi-monthly the optimal blend of compliance and appeal.
The Cost of Aggressive Accumulation
Unrelenting BTC buying has a downside. Strategy’s Q1 report showed $14.46 billion in unrealized losses on digital assets, reflecting bitcoin’s seasonal correction. MSTR shares have dropped over 47% in the past year, far underperforming BTC itself. The switch to semi-monthly dividends also hints at cracks in the monthly system: investors haven’t been absorbing new shares as steadily as hoped. The proposal is effectively a fix for a structural weakness in the funding instrument, not just a pure optimization.
Dual Engine in Sync: What’s Next for Strategy
Strategy’s flywheel remains unchanged: use capital market tools (preferred stock, convertibles) to raise cash, convert it all to BTC, and let the growing stash back further fundraising. Now both engines are accelerating — Saylor teases a new BTC buy, while Le retools STRC dividends to keep funding flowing. The formal STRC proxy is expected on April 28 with voting open; the shareholder meeting cut-off is June 8. If passed, the semi-monthly regime would take effect on July 15. As for the buy announcement, the answer could come as early as Monday.