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Inside the Suits
Michael Saylor

Michael Saylor

Executive Chairman, Strategy (formerly MicroStrategy)
Form 8-K (bitcoin purchases), 10-Q/10-K, Form 4

No receipts yet. The record opens the day their words and a document first meet.

The record as a path

Michael Saylor
Twelve per cent until a hundred dollarsStill open
Statements we checked4

What the colours mean

Each root, and the card it starts from

  • RoutineThe gap exists but means nothing. Most threads land here, and saying so is the point.
  • AlignedWords and filings point the same way, but nothing was promised.
  • KeptA checkable promise the filings confirm was honoured.
  • MissedA checkable promise with a deadline, and the deadline passed without it being met.
  • TellThe gap reveals something the words alone would not. Red stays rare on purpose.
  • Still openAn open question. It runs to the date something is due to settle it.
  • Open callA published forecast still running, scored at its deadline.
  • Call wonA finished call that was right. Blue, as on the board.
  • Call lostA finished call that was wrong. It stays on the board for good.

Each step along a root

  • SaidTheir own words: a post, a speech, an interview, a call.
  • TradeA buy or a sell in a disclosure report or a Form 4.
  • FilingAnother document on the public record.
  • Law or orderA vote, a bill, an executive order, a rule.
  • CourtA complaint, an order or a judgment.
  • DataAn official number: Treasury, Medicare, the Fed, an agency release.
  • EventSomething that happened and is on the record.
  • StockThe move since the thread opened. Green up, orange down.

Words are blue. Documents are grey and told apart by their icon. The last step takes the colour of the verdict, or of the question while it is still open. Nothing here claims one thing caused another: it is what followed, in order, each with its source.

No receipts on Michael Saylor yet. The file opens the day their words and filings first meet. Their disclosures are on the desk.

Nobody on the list files more often about one thing. Strategy reports its bitcoin purchases on Form 8-K, usually within days, with the number of coins, the price paid and the total holding. That gives his words a document to meet almost every week, which no other subject offers.

The said column is just as full. He posts daily, speaks at every conference that will have him, and the message rarely changes: the company will not sell, the position only grows, and the stock is the vehicle. The receipts to look for are the moments the paper qualifies the pitch: a quarter where the 10-Q shows the money for purchases came from selling new shares or converting debt, or an 8-K that records a sale of anything at all.

His own Form 4s are the second seam. They record sales of Strategy stock by him in early 2024 under a plan the company had disclosed in advance, and nothing since. Any new one is a receipt the day it lands, set against whatever he said that week about holding.

  • Ongoing Weekly 8-Ks: coins bought, price paid, and where the money came from, read against the same week's statements.
  • Ongoing Any Form 4 in his own name, which would be the first sale of his stock since 2024.
  • Before first receipt Baseline first: what a routine month of purchases and statements looks like, so a quiet week or a sale can be read against it.
  • Oct 28, 2026 The STRC rate, announced monthly at strategy.com/strc and recorded in an 8-K, against the Jul 30 undertaking to hold it at 12.00%. The special meeting on Oct 28 decides whether the $0.50 declared for Nov 15 is paid at all.
  • A little more orange.

    X, @saylor, post 2101655944945930253, with the purchase chart, Sep 20, 2026

    Checked at source. The next morning's 8-K recorded 950 bitcoin bought during Sep 14 to 20 for $75.7 million. Said Sunday, filed Monday, as most weeks. Logged as the baseline, not a receipt.

  • Even more orange.

    X, @saylor, post 2104175752342098125, checked at source, Sep 27, 2026

    The second Sunday running that he has posted the purchase chart before the Monday 8-K. On Sep 20 it was "A little more orange" and the filing the next morning recorded 950 bitcoin. Neither post carries a number or a date, so neither is material on its own, and nothing here suggests otherwise. What is worth counting is the cadence: if the signal lands the day before the document every week, that is a disclosure habit with a record behind it.

  • Stretch Dividend Rate maintained at 12.00% for October 2026. $STRC

    X, @saylor, post 2105448220922905043, checked at source, Oct 1, 2026

    Posted two minutes after midnight UTC, the same morning the 8-K went in. The number is not the interesting part. Strategy said on Jul 30 that it would hold the rate at 12.00% until STRC showed sustained, healthy trading near its $100 stated amount, and on Sep 30 the shares closed at $99.35. The company wrote the test and left every word of it undefined, so it decides when the test has been passed. Opened as a watch.

  • Still living comfortably. $STRC

    X, @saylor, post 2105995008109109423, checked at source, Oct 2, 2026

    Posted with a video the morning after STRC closed at $99.50, fifty cents under the $100 the July undertaking names. Nothing testable in it. Logged because it is his third STRC post in two days.

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