Strategy Launches Euro-Denominated Preferred Stock for Bitcoin

Strategy (formerly known as MicroStrategy) has unveiled its plans for its inaugural euro-denominated perpetual preferred stock, dubbed STRE.

The company has stated that the funds raised will be allocated towards various corporate activities, notably including the acquisition of Bitcoin (BTC).

This announcement comes as the BTC treasury firm intensifies its cryptocurrency accumulation strategy, following a recent investment of $45.6 million. This bold initiative signals a significant commitment to expanding its cryptocurrency portfolio.

Strategy Aims to Generate Capital for Bitcoin via STRE Shares

On November 3, 2025, Strategy revealed details about its proposed offering of 10% Series A Perpetual Stream Preferred Stock (STRE). The company intends to issue 3.5 million shares, each with a par value of €100, targeting institutional investors in 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 stated.

The STRE shares will feature a 10% annual dividend rate, paid quarterly starting December 31, 2025. These dividends are cumulative, meaning that if they are not paid, they will continue to accrue additional interest, potentially rising to 18% annually until fully settled.

Moreover, the STRE shares come with specific redemption and repurchase rights. The company retains the right to redeem shares if the outstanding amount falls below 25% of the original issuance or in the event of a tax-related situation. Additionally, Strategy mentioned that:

“If an event that constitutes a 'fundamental change' occurs, holders of the STRE Stock will have the option to require Strategy to buy back some or all of their STRE Stock at a cash repurchase price equal to the stated amount of the STRE Stock being repurchased, along with any accumulated and unpaid regular dividends, not including the fundamental change repurchase date.”

The proceeds from this offering will be processed under a shelf registration, with prominent financial institutions including Barclays, Morgan Stanley, Moelis, SG Americas, TD Securities, Canaccord Genuity, and StoneX Financial acting as joint book-running managers.

“The offering is being conducted under an effective shelf registration statement filed with the US Securities and Exchange Commission (the 'SEC'). The sale will proceed solely through a prospectus supplement and accompanying prospectus,” the firm added.

Importantly, the introduction of euro-denominated STRE marks a pivotal move in capital markets, expanding Strategy's financing strategies beyond the conventional US dollar framework.

Strategy Bolsters Bitcoin Holdings with Recent Acquisition

The STRE offering is aligned with Strategy's ongoing accumulation strategy as it seeks to increase its Bitcoin reserves. With this latest investment, the company continues to solidify its position as a major player in the cryptocurrency market.