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Total dividends would not change, but STRC's record dates would go from 24 a year to 365 and the other three series from four to 365. Proposal 1 needs a majority of all outstanding common voting power, and the proxy puts Michael Saylor's share of it at 32.9%.
The 4,603 coins cost $369.7 million out of a $602.8 million stock sale; the rest went to STRC buybacks, dividends and cash. STRC still trades below par after $635 million of repurchases.
The unrealised loss reflects the gap between Strategy's $75,578 average cost and quarter-end bitcoin prices near $58,700. STRC preferred grew to $10.5 billion notional.
Strategy disclosed in an 8-K filing on Monday that it had acquired 24,869 BTC for roughly $2.01 billion between May 11 and May 17, lifting total holdings to 843,738 coins — and funded about 97% of the buy through sales of its STRC perpetual preferred rather than common stock.
AIMCo, the C$194.7 billion Alberta provincial pension manager, has disclosed a $219 million Strategy position — its first ever Bitcoin-linked allocation, and a return to a stock it sold in September 2020 specifically before Saylor's pivot. The fund is already up $69 million.
Michael Saylor's company bought roughly 31 days of global mining output in a single week, paying $71,902 per coin through sales of its Stretch preferred stock without issuing a single common share.
The company formerly known as MicroStrategy recorded its largest-ever paper loss as bitcoin fell 22.6 per cent during the quarter, then immediately resumed buying in early April.
