Strategy Buys 1,665 Bitcoin for $142.7M as Holdings Reach Record 847,666 BTC

Michael Saylor-led Strategy has purchased 1,665 Bitcoin for $142.7 million at an average price of $85,681 per token for the week ended Sept. 27, marking its first back-to-back weekly acquisitions since June. The purchase followed an acquisition of 950 BTC for $75.7 million the preceding week, bringing net third-quarter additions to 1,666 BTC after earlier quarterly sales had briefly pushed accumulation into negative territory.## Record Holdings and Equity FinancingThe recent accumulation spree has expanded Strategy's total balance to a record 847,666 BTC, acquired for an aggregate $63.9 billion at an average cost of $75,437 per coin. With total holdings currently valued at approximately $70.7 billion, the company maintains an unrealized gain of roughly $6.75 billion (10.6%). Analyst Mark Harvey noted that Strategy has now repurchased all coins sold earlier in the quarter, maintaining its 24-quarter streak of net Bitcoin growth. To fund the latest 1,665 BTC buy, Strategy sold roughly 1.47 million MSTR shares through its at-the-market program, generating $246.2 million in net proceeds and leaving $18.84 billion in remaining issuance capacity. Analyst Zaid observed that Strategy spent less than his projected $250 million to $300 million on Bitcoin because management diverted capital toward corporate debt management amid ongoing macro shifts in Bitcoin market conditions.## Preferred Stock Repurchases and Daily Dividend ProposalIn addition to its cryptocurrency purchases, Strategy deployed $151.7 million to repurchase 1.53 million shares of its Variable Rate Series A Perpetual Stretch preferred stock (STRC). The preferred share buys were funded using $103.5 million from MSTR equity sales and $48.1 million from general USD cash reserves. The company also allocated $22.1 million from its USD Reserve for preferred dividend payouts, leaving $1 billion in general cash and $5 billion in its USD Reserve as of Sept. 27. STRC repurchases represented 18.9% of the security's weekly trading volume, helping lift STRC to $99—close to its $100 par value after dipping to $71 in June. To further stabilize the security, Strategy scheduled an Oct. 28 special shareholder meeting to approve daily dividend payouts across its preferred securities (STRC, STRF, STRK, and STRD), with STRC expected to begin daily payments on Nov. 2.## Key Takeaways- Strategy added 1,665 BTC for $142.7 million, reaching a record 847,666 BTC balance.- Net third-quarter additions reached 1,666 BTC, preserving a 24-quarter growth streak.- $151.7 million was spent buying back 1.53 million STRC preferred shares, lifting the price to $99.- An Oct. 28 shareholder vote will determine daily dividend implementations for preferred stock.## Why It MattersStrategy's dual focus on aggressive Bitcoin buying and preferred stock stabilization highlights the complex treasury architecture backing its corporate model. By actively defending STRC near its $100 par value through stock buybacks and proposed daily dividends, management aims to reduce yield volatility and retain investor trust in its fixed-income instruments. As corporate balance sheets increasingly adopt crypto assets alongside traditional capital instruments, Strategy's ability to balance equity dilution, debt servicing, and Bitcoin accumulation remains a vital benchmark for corporate bitcoin treasury strategies.