Strategy (NASDAQ: MSTR) has recovered all of the Bitcoin it sold and pushed its reserves to a new all-time high, disclosing a $142.7 million purchase of 1,665 BTC over the past week. A Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) — the disclosure companies use to report material corporate events — for the week ended September 27 also confirmed that the firm spent another $151.7 million repurchasing its own STRC preferred stock.

Record Bitcoin reserve restored

According to the filing, Strategy now holds 847,666 BTC — the most of the asset ever attributed to a single publicly traded company, per Bitcoin Treasuries — after the Saylor-led firm added 1,665 BTC at an average price of $85,681 per token. That leaves the reserve a net 303 BTC above its previous high.

The new figure is north of the 847,363 BTC Strategy held at its previous peak on June 22, before it announced several rounds of token sales over the summer to balance its books. The company resumed buying BTC in August, as previously reported.

Once known as MicroStrategy, the enterprise software firm has accumulated Bitcoin since 2020, with acquisitions financed primarily through equity and fixed-income offerings.

Overall, the Bitcoin stash cost $63.95 billion to build at an average of $75,437 per token. It was valued at roughly $70.6 billion when the filing hit, about $6.6 billion above cost basis. Bitcoin was trading near $83,400 at the time, down about 1.4% on the day.

Strategy funded the week's purchase with equity, $246.2 million in net proceeds by selling 1,469,165 MSTR shares through its at-the-market program — a mechanism that lets issuers sell registered shares into the market over time at prevailing prices rather than in a single underwritten offering. The firm split the raise into two purchase tranches:

• $142.7 million went to Bitcoin
• $103.5 million went to the STRC preferred-stock buyback

Strategy is still buying STRC

The other half of the roughly $294 million spent last week went toward preferred stock. Strategy repurchased 1,534,530 shares of its Variable Rate Series A Perpetual Stretch Preferred, ticker STRC, for $151.7 million, covering the outlay with $103.5 million from MSTR share sales plus $48.1 million drawn from its USD Cash balance.

The buybacks are intended to lift STRC back toward its stated $100 par value, a level the security has traded below.

After the spending, USD Cash slipped to $1 billion, while the separate USD Reserve stood at $5.02 billion, the latter down after $22.1 million in preferred dividends. Combined, the two pools still hold just over $6 billion. Strategy said $723.5 million remains available under its digital credit securities repurchase program.

Daily-dividend vote ahead

The repurchases are one prong of a wider push to stabilize the preferreds. On September 25, Strategy proposed switching STRC, STRD, STRF, and STRK to daily dividends, as Cryptopolitan reported. Common stockholders vote on October 28; preferred holders get no say.

If approved, STRC moves first, with a record date on November 1 and the first daily payment on November 2. The proposal would change only the payment frequency: coupon rates and total dividend obligations remain unchanged. From the October 28 vote to the November 2 first payment, the rollout now runs on a fixed calendar.