Saylor's Strategy Adds 1,665 BTC, Takes Stash to 847,666 — Still Won't Call It a Problem

Strategy, the Michael Saylor-led Bitcoin treasury firm formerly known as MicroStrategy, acquired 1,665 BTC for $142.7 million last week at an average price of $85,681 per coin, according to a Sept. 28 8-K filing with the US Securities and Exchange Commission. The purchase lifted the company's holdings to a record 847,666 BTC, acquired for $63.95 billion at an average price of $75,437 per Bitcoin, including fees and expenses.

The purchase, executed between Monday and Sunday, surpassed the company's prior high of 847,363 BTC set on June 22, according to BitcoinTreasuries. Strategy had sold Bitcoin during the summer, offloading 6,948 BTC between May and August before resuming accumulation in August. The latest buy follows a 950 BTC purchase worth $75.7 million the previous week, which itself ended a two-week pause in acquisitions.

Strategy funded the deal through its at-the-market offering program, selling 1.47 million MSTR common shares for $246.2 million in net proceeds. Of that total, $142.7 million was allocated to Bitcoin and $103.5 million went to repurchasing shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, traded under the ticker STRC. The company repurchased 1.53 million STRC shares for $151.7 million, with an additional $48.1 million drawn from its US dollar cash holdings, leaving $723.5 million still available under its digital credit securities repurchase program. Strategy has framed STRC buybacks as part of a broader capital-allocation strategy, seeking to lift the preferred stock back toward its $100 stated value.

The company's USD Cash balance fell to $1 billion from $1.05 billion week over week after the $48.1 million deployment for STRC repurchases. Its separate USD Reserve, maintained to cover preferred stock dividends and debt interest, declined to $5.02 billion from $5.04 billion after $22.1 million in dividend payments. Combined, Strategy reported $6.02 billion in USD assets as of Sept. 27.

Separately, Strategy executive chairman Michael Saylor said last week the company plans to seek shareholder approval for daily dividend accrual on its four US-listed preferred series — STRF, STRC, STRK and STRD — with dividends to accrue every calendar day and pay the following business day. A definitive proxy is due Oct. 5, and shareholders are scheduled to vote on Oct. 28.