Strategy (formerly MicroStrategy) has announced plans for an initial public offering of its first-ever euro-denominated perpetual preferred stock, STRE. The company said the proceeds will be used for general corporate purposes, including acquiring Bitcoin (BTC).
This initiative arrives as the BTC treasury company continues to ramp up its cryptocurrency holdings with the recent $45.6 million investment. The move highlights a determined expansion strategy.
Strategy Moves to Raise Capital for Bitcoin Through New STRE Shares
On November 3, 2025, Strategy announced the proposed 10% Series A Perpetual Stream Preferred Stock (STRE) offering. The company plans to issue 3.5 million shares at a par value of €100 each, targeting qualified institutional investors across Europe and beyond.
“Strategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital,” the press release read.
The STRE shares carry an annual dividend rate of 10%, paid quarterly, starting December 31, 2025. Dividends are cumulative and will continue to accrue if not paid. Any unpaid dividends will earn additional interest, which can rise up to 18% per year until fully paid.
The STRE includes redemption and repurchase rights. The company may redeem shares if the outstanding amount drops below 25% of the initial issue or if a tax event occurs. Furthermore, Strategy noted that,
“If an event that constitutes a ‘fundamental change’…..holders of the STRE Stock will have the right to require Strategy to repurchase some or all of their shares of STRE Stock at a cash repurchase price equal to the stated amount of the STRE Stock to be repurchased, plus accumulated and unpaid regular dividends, if any, to, but excluding the fundamental change repurchase date.”
The offering proceeds under a shelf registration, with joint book-running by Barclays, Morgan Stanley, Moelis, SG Americas, TD Securities, Canaccord Genuity, and StoneX Financial.
“The offering is being made pursuant to an effective shelf registration statement on file with the US Securities and Exchange Commission (the ‘SEC’). The offering will be made only by means of a prospectus supplement and an accompanying prospectus,” the firm added.
Notably, the euro-denominated STRE marks a strategic shift in capital markets, broadening efforts beyond US dollar-based financing.
Strategy Expands Bitcoin Holdings With Latest Purchase
The STRE offering supports Strategy’s ongoing accumulation of Bitcoin, reinforcing its position as the top corporate holder. Chairman Michael Saylor recently disclosed that the firm bought 397 BTC for about $45.6 million. The average purchase price per coin was approximately $114,771.
“Strategy….has achieved BTC Yield of 26.1% YTD 2025,” Saylor posted
As of the latest data, Strategy holds 641,205 BTC. These holdings are valued at $68.52 billion at current market prices.
The latest purchase comes after Strategy highlighted its strong financial performance. During the third quarter, the company posted $90.7 million in gross profit and $2.8 billion in net income. It also reaffirmed its full-year 2025 outlook, expecting $24 billion in net income and $34 billion in operating income.
With strong quarterly earnings and ambitious full-year projections, Strategy appears determined to sustain its dual focus — strengthening its balance sheet through innovative capital markets activity and expanding its long-term Bitcoin holdings.
