Shares of Strategy, the bitcoin-accumulation firm founded by Michael Saylor, jumped Monday after the company boosted its U.S. dollar reserve to $3.75 billion.

Strategy's stock gained 7.5% Monday afternoon, though it is still down 35% this year.

Specifically, Strategy said it sold $544.5 million worth of common shares in the past week, while making no bitcoin sales or purchases. It bought back $25 million worth of Stretch, the company's largest dividend-paying preferred stock.

The preferred stock repurchase is part of a turnaround plan that Strategy unveiled last month to restore investor confidence in the company. Shares of Stretch were trading around $89 Monday afternoon, 11% below their par value of $100.