Strategy sets record 847,666 BTC after $143M buy and $152M STRC buyback
- Strategy bought 1,665 BTC for $142.7 million last week and repurchased $151.7 million of its STRC preferred stock.
- The firm’s Bitcoin holdings are now at a new record level.
- Strategy funded the purchases through share sales ahead of an October 28 vote on daily dividends.
Strategy (NASDAQ: MSTR) has recovered all of the Bitcoin it sold and pushed its reserves to new record levels after paying $142.7 million for 1,665 BTC over the last week. The firm’s SEC filing also confirmed that it spent another $151.7 million repurchasing its own STRC preferred stock.
The purchase disclosed in the 8-K filed with the Securities and Exchange Commission (SEC) for the week ended September 27 shows that Strategy now holds a record 847,666 BTC, a number higher than the amount it held before it began selling some of its reserves to balance its books.
Strategy sets a new Bitcoin record
Strategy now holds 847,666 BTC, the highest amount of tokens ever attributed to a single publicly traded entity, after the Saylor-led company added 1,665 BTC for $142.7 million, paying an average of $85,681 per token.
The new figure is north of the 847,363 BTC Strategy held at its previous peak on June 22 before it announced a few rounds of token sales over the summer. The firm resumed buying BTC again in August.
Overall, the firm’s Bitcoin stash cost $63.95 billion to build at an average cost of $75,437 per token. The stash is currently valued at roughly $70.6 billion, about $6.6 billion above cost basis.
Bitcoin was trading near $83,400 as the filing hit, down about 1.4% on the day.
Strategy funded last week’s BTC splurge with equity, raising $246.2 million in net proceeds after selling 1,469,165 MSTR shares through its at-the-market program. The firm split the raise into two purchase tranches:
- $142.7 million went to Bitcoin
- $103.5 million went to STRC preferred-stock buyback
Strategy is still buying STRC
The other half of the roughly $294 million that Strategy spent last week went to the preferred stock. The firm repurchased 1,534,530 shares of its Variable Rate Series A Perpetual Stretch Preferred, ticker STRC, for $151.7 million. It covered that with the $103.5 million from MSTR sales plus $48.1 million drawn from its USD Cash balance.
The buybacks are meant to lift STRC back toward its stated $100 par value, which the security has traded below.
After the spending, USD Cash slipped to $1 billion, and the separate USD Reserve stood at $5.02 billion, the latter down after $22.1 million in preferred dividends. Strategy said $723.5 million remains available under its digital credit securities repurchase program.
Daily-dividend vote ahead
The buyback is one prong of a wider push to stabilize the preferreds. On September 25, Strategy proposed switching STRC, STRD, STRF, and STRK to daily dividends, 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 coupon rates and total dividend obligations do not change.
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FAQs
How much Bitcoin does Strategy hold now?
Strategy holds 847,666 BTC, a company record, bought for $63.95 billion at an average price of $75,437 per coin, according to its September 28 SEC filing.
How did Strategy pay for its latest Bitcoin purchase?
It sold 1,469,165 MSTR shares for $246.2 million in net proceeds through its at-the-market program, directing $142.7 million to Bitcoin and $103.5 million to STRC buybacks.
When would Strategy's proposed daily dividends begin?
If common stockholders approve the change on October 28, STRC would get its first daily dividend record date on November 1, with the first payment on November 2, while STRF, STRK, and STRD switch in January 2027.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Hannah Collymore
Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.
