Michael Saylor, the Executive Chairman of Strategy, signaled on Sunday, May 17, 2026, that his firm is preparing for another Bitcoin (BTC) acquisition. In a post shared on X, the platform formerly known as Twitter, Michael Saylor published an “orange-dot chart” captioned with the phrase “₿ig Dot Energy.” This specific social media signaling has historically served as a reliable precursor to official announcements regarding the company’s treasury purchases.
The teaser comes as Strategy, which rebranded from MicroStrategy in February 2025, solidifies its position as the largest corporate holder of the digital asset. As of May 17, 2026, the company’s total holdings reached 818,869 BTC, representing more than 3.9% of the total 21 million Bitcoin supply cap. With the market price of Bitcoin currently near $78,262, the firm’s total portfolio is valued at approximately $64.23 billion, yielding a substantial profit over its aggregate purchase price of $61.9 billion.
Strategy has maintained an aggressive pace of accumulation throughout the second quarter. Just last week, on May 11, the company confirmed it had purchased 535 BTC for approximately $43 million between May 4 and May 10. That acquisition was executed at an average price of $80,340 per Bitcoin, funded by the sale of company securities, including Class A common stock and perpetual Stretch preferred stock.
Strategy treasury metrics and Bitcoin per share valuation
The company’s focus on Bitcoin has significantly influenced its internal valuation metrics. As of May 17, 2026, the Bitcoin per share for Strategy is calculated at 213,391 sats. This figure offers a way for investors to track the amount of Satoshi units—the smallest denomination of a Bitcoin—underpinning each share of the company’s equity. This metric is increasingly relevant as Bitcoin exchange supply maintains multi-year lows, heightening the impact of corporate accumulation.
Despite the bullish long-term outlook, the company’s stock, trading under the ticker MSTR, reflected broader market fluctuations on Sunday. The share price dropped 5.11% to $177.42, bringing the company’s total market capitalization to $62.31 billion. However, its enterprise value remains considerably higher at $81.85 billion, reflecting the significant debt and preferred equity used to leverage its massive Bitcoin position.
Michael Saylor’s latest hint follows a series of posts throughout May designed to reassure the market of his “net accumulator” philosophy. On May 10, he posted “No More ₿ears” and “Back to work, BTC,” signaling a pivot back to buying after a week of relative inactivity. Earlier in the month, Michael Saylor had noted on May 3 that the company made no buys during that specific week, but promised a return to the market.
Analysing Bitcoin price resistance and corporate strategy
The timing of this potential buy is significant as the market observes Bitcoin price analysis showing rejections at key resistance levels. Strategy’s average purchase price across its entire history now sits at approximately $75,540 per Bitcoin. Even with recent price dips, the company’s strategy remains focused on long-term holding rather than short-term trading.
During recent podcast appearances, Michael Saylor clarified the firm’s stance on selling. While he mentioned in a May 5 Q1 earnings call that Strategy might sell small amounts to fund dividends and “inoculate the market,” he later explained that such moves are purely for signaling liquidity. Michael Saylor noted on “The Wolf Of All Streets” podcast that if the company never sold, credit rating agencies might not view the Bitcoin as a liquid asset.
He further emphasized that even in periods where a sale might occur, the company would remain a net buyer, likely purchasing “10 to 20 more” Bitcoin for every one sold. This institutional confidence is mirrored in other sectors, such as Italy’s largest bank exceeding $200M in Bitcoin exposure, suggesting that the “Strategy model” of institutional adoption is gaining traction in traditional finance.
Operational liquidity and the dividend framework
CEO Phong Le has sought to downplay concerns that future Bitcoin sales for dividend payments would disrupt the market. He pointed out that Bitcoin’s daily trading volume often exceeds $60 billion. Compared to this, the company’s annual dividend obligations of roughly $1.5 billion are relatively small and could be absorbed without significant price impact. The goal is to prove to the market that Strategy can utilize its $65 billion asset if necessary.
This pragmatic approach to treasury management is intended to boost the company’s creditworthiness. Michael Saylor argued that not taking advantage of Bitcoin’s correlated liquidity would effectively “impair the asset” that makes up 98% of the company’s value. By demonstrating that the Bitcoin can be converted to cash for taxes or dividends, the firm hopes to solidify its status as a mature financial entity.
The “₿ig Dot Energy” post suggests that an SEC filing detailing a new purchase may be imminent. Historically, these filings confirm that Strategy has utilized its at-the-market (ATM) facility to convert stock sales into Bitcoin. If a new purchase is confirmed, it will likely be reflected in the company’s next updated holdings report, tightening its grip on nearly 4% of the world’s total Bitcoin supply.
