Ethereum Just Saw Its Strongest Buy Pressure Since The 2022 Bear Market
Ethereum experiences its strongest buy pressure since the 2022 bear market, signaling a potential market shift.
NewsBTC1 min read
Saylor teases 'bigger' BTC buy days after floating semi-monthly dividends
TL;DR
Michael Saylor hints at a larger Bitcoin purchase shortly after acquiring $1 billion worth of BTC. This follows a proposal to increase dividend payments to stockholders.
Key points
- Michael Saylor hints at a larger Bitcoin purchase
- Strategy acquired 13,927 Bitcoin for $1 billion
- Purchase occurred between April 6 and 12, 2023
- Average price per Bitcoin was $71,902
- Proposal to increase dividend payments to stockholders
Mentioned in this story
Michael SaylorStrategy
Strategy co-founder Michael Saylor has hinted at another large Bitcoin purchase, just a week after the company disclosed that it bought around $1 billion of Bitcoin in the second week of April.
Strategy disclosed last Monday that it acquired 13,927 Bitcoin for $1 billion between April 6 and 12, at an average price of $71,902 per coin, posting “Think ₿igger” the day before the filing.
However, Saylor posted “Think Even ₿igger” on X on Sunday along with a chart of Strategy’s purchase history, something he has historically done to hint at another purchase announcement.
It comes just days after the Bitcoin treasury company proposed to increase the frequency of dividend payments to stockholders in the hopes of stabilizing the price and growing demand.
Source: Michael Saylor
In a video presentation to shareholders shared by Saylor on Friday, Strategy CEO Phong Le said the company hopes to pay dividends twice a month — on the 15th and again at the end of each month — for a total of 24 a year at the current rate of 11.5%.
“What do we think this will do, it should stabilize the price, dampen cyclicality, drive further liquidity and grow demand,” Le said.
A preliminary proxy filing was sent to the US Securities and Exchange Commission on Friday. The definitive proxy filing is expected on April 28, when voting opens to approve or reject the measure. Voting closes on June 8 at the annual shareholder meeting, with the new schedule expected to start mid-July if approved.
Q&A
What was the recent Bitcoin purchase made by Strategy?
Strategy recently bought 13,927 Bitcoin for $1 billion between April 6 and 12, averaging $71,902 per coin.
What did Michael Saylor mean by 'Think Even ₿igger'?
Saylor's phrase 'Think Even ₿igger' suggests he is hinting at another significant Bitcoin purchase.
Why is Strategy proposing to increase dividend payments?
Strategy aims to stabilize Bitcoin's price and grow demand by increasing the frequency of dividend payments to stockholders.
How much Bitcoin did Strategy buy in April 2023?
In April 2023, Strategy purchased approximately $1 billion worth of Bitcoin, totaling 13,927 BTC.
