Strategy, the business intelligence firm led by Michael Saylor, disclosed in a Monday filing with the U.S. Securities and Exchange Commission that it purchased 334 bitcoin between October 1 and October 4 for a total of $28.7 million. The acquisition lifted the company’s bitcoin holdings to exactly 848,000 BTC, a new record.

The average purchase price for the latest tranche stood at approximately $85,839 per coin. Strategy’s overall average cost basis across its entire position is about $75,441 per bitcoin, with total capital deployed on the asset now near $63.97 billion.

Preferred Stock Buybacks Far Exceed Bitcoin Spending

Over the same recent period, Strategy allocated substantially more capital to repurchasing its STRC preferred stock. The company spent $176.3 million to buy back roughly 1.77 million shares of STRC. That outlay was more than six times the amount used for the bitcoin purchases.

Breakdown figures show $102.6 million spent on 1,033,168 shares in the final days of September and an additional $73.7 million on 740,634 shares from October 1 to 4. Funding for the buybacks came primarily from the firm’s USD Cash balance, with a smaller portion drawn from interest earned on cash and short-term investments. The preferred stock repurchase program retains $547.2 million in remaining capacity.

STRC carries a 12 percent annual dividend and has traded near its $100 stated amount in recent sessions. Strategy has previously indicated it intends to maintain the dividend rate until the shares trade steadily around par.

Third-Quarter Digital Asset Gain and Slower Net Accumulation

Strategy estimated a preliminary $20.91 billion gain on its digital assets for the third quarter. The figure largely results from the fair-value increase in its existing bitcoin holdings and carries an associated deferred tax expense of $1.88 billion.

Net bitcoin accumulation slowed markedly in the quarter. The company acquired 7,218 BTC while selling 5,553 BTC, producing a net increase of 1,666 coins. Holdings stood at 847,666 BTC at the end of September, up just 0.2 percent from 846,000 BTC at the end of June. By comparison, holdings had risen nearly 11 percent in the second quarter.

During the third quarter Strategy also spent approximately $1.38 billion on STRC repurchases, dwarfing the value of its modest net bitcoin additions for the period.

Proposal for Daily Preferred Dividends

In a separate proxy filing, Strategy sought shareholder approval to shift dividend payments on its preferred stock series—STRC, STRF, STRK and STRD—to every business day. The change would replace STRC’s current twice-monthly schedule and the quarterly cadence used by the other three series.

The company stated that dividend rates and overall payment obligations would remain unchanged. The adjustment is intended to shorten reinvestment delays and support greater liquidity and price stability. Shareholders will vote at a special meeting scheduled for October 28. If approved, daily payments for STRC would begin in November, with the remaining series following in January.

Strategy sold 92,894 shares of its common stock (MSTR) for $15.7 million in net proceeds during the latest reporting window, directing those funds entirely toward bitcoin. An additional $13 million was drawn from USD Cash for the same purpose. No preferred shares were issued through the at-the-market program in the period.

In premarket trading following the disclosures, MSTR shares rose about 2.9 percent to $164.60, while STRC traded near $99.45.