Strategy signalled it may resume additional bitcoin purchases.

On May 31 (local time), blockchain media outlet Cointelegraph reported that Michael Saylor (마이클 세일러), chairman of Strategy, posted a bubble chart on his social media account showing Strategy’s bitcoin buying history over the past six years. He added a short message: "It’s working more smoothly."

The chart Saylor posted has typically been published ahead of Strategy’s announcements of new bitcoin purchases. That has led to market expectations that buying, which had stopped in recent weeks, could restart. Strategy holds the largest amount of bitcoin among listed companies.

If there is a purchase announced this time, there is also a possibility it was made below the company’s existing average purchase price. The average purchase price of Strategy’s 843,738 bitcoin is $75,701 per coin. By contrast, bitcoin has fallen about 3.65 percent since May and is currently trading in the $73,000 range.

The market also focused on a long-term trend indicator. Adam Back (아담 백), chief executive of Blockstream, mentioned on the day that bitcoin’s 200-week moving average is well above $61,000. Some technical investors see this indicator as a signal of a long-term uptrend.

This signal is also intertwined with agenda items for Strategy’s shareholder meeting. Strategy is pushing a proposal to change the dividend payment frequency for its STRC perpetual preferred stock to twice monthly from once monthly. The company argues that if the proposal passes, reinvestment delays will be reduced and liquidity, market efficiency and price stability could improve.

Ahead of the June 7 voting deadline, Strategy also moved to rally votes from small shareholders. The company’s investor relations team shared a link to the agenda for the 2026 annual shareholder meeting with employees through an internal channel. On May 28, Strategy’s official X account said that for the proposal to amend STRC’s twice-monthly dividend to pass, approval is needed from 50 percent of all 85 million outstanding shares as of April 17, 2026, adding that every vote matters.

Phong Le (퐁 레), Strategy’s CEO, also asked STRC shareholders for support in a video the day before. He said, "I wanted to explain directly the proposed amendment and what it means to shareholders."

A variable is turnout among small shareholders. According to a research note published in November last year by the Harvard Law School Forum on Corporate Governance, small shareholders exercised only about 29 percent of the shares they held over the past five proxy voting seasons. The voting rate for institutional investors was about 77 percent.

Strategy is therefore seen as working to persuade shareholders while signalling a resumption of bitcoin purchases. Whether it will actually announce a purchase and whether the proposal to change STRC’s dividend structure will pass are expected to be points for the market to watch.

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