According to CoinMeta, the perpetual preferred stock of STRC ( MSTR ) has risen by over 30% from its June low, driven by Bitcoin sales and a cash reserve of $4 billion. The current trading price is around $94, with another 1% increase on Wednesday. STRC hit a bottom of around $71 at the end of June; since then, MicroStrategy has sold 5,226 Bitcoins, earning $321 million, and its holdings have decreased from 847,363 to about 842,137. These sales are intended to demonstrate that the company can use Bitcoins to fulfill its dividend obligations rather than treating them as idle assets. In addition, MicroStrategy also repurchased $106 million of STRC in an effort to restore the preferred stock to its par value of $100. On Monday, the company increased its cash reserves by another $250 million, bringing the total to $4 billion, which is sufficient to cover the dividend obligations of the preferred securities for about 2.3 years. Meanwhile, MicroStrategy maintains an annual dividend yield of 12% for STRC. The price of Bitcoin has stopped falling and has been stable above $60,000 for several weeks.