MicroStrategy May File New Bitcoin Purchase 8-K After Cash Drops to $871 Million
STRC•Michael Saylor’s May 31 “Working ₿etter” post has traders anticipating an 8-K filing for new Bitcoin purchases as MicroStrategy holds 843,738 BTC valued at $62.24 billion. The company spent $1.38 billion on 2029 note buybacks, cutting cash to $871 million and faces a June 8 preferred dividend vote.
1. Saylor’s “Working ₿etter” Post and Purchase Speculation
On May 31, Michael Saylor posted “Working ₿etter” on X, triggering speculation that MicroStrategy will soon file an 8-K to announce a fresh Bitcoin purchase. Traders have come to view similar posts as reliable signals, as the company historically discloses new BTC acquisitions within days of Saylor’s updates.
2. Bitcoin Holdings and Coinbase Prime Move
MicroStrategy holds 843,738 Bitcoin with a reserve value of approximately $62.24 billion and has not added to its holdings since May 18, marking its longest buying pause this year. Last week the firm briefly deposited 411 BTC to Coinbase Prime before withdrawing the same amount, easing fears of an imminent sale.
3. Capital Position and Upcoming Dividend Vote
In May, MicroStrategy spent $1.38 billion repurchasing 2029 convertible notes, reducing its USD reserves to about $871 million from approximately $2 billion. Investors will vote on June 8 to shift preferred stock dividends to semi-monthly payments, adding near-term pressure to the company’s liquidity management strategy.
