Strategy Files for Euro-Denominated Preferred Stock IPO to Fund Future Bitcoin Buys

Strategy, the largest corporate Bitcoin holder, is continuing its aggressive accumulation plan by filing for an Initial Public Offering (IPO) of 3.5 million shares of its new euro-denominated perpetual preferred stock (STRE).

Capital Raise for Bitcoin Treasury

• Primary Goal: The net proceeds from the IPO are earmarked for general corporate purposes, specifically including the acquisition of more Bitcoin (BTC), aligning with the company’s Digital Asset Treasury (DAT) model.
• Latest Acquisition: The company just announced a purchase of 397 BTC for approximately $45.6 million (average price of $114,771), bringing its massive total holdings to 641,205 BTC.
• Sustainable Model: The funding model, pioneered by Michael Saylor, uses equity and debt offerings (like its existing preferred stocks STRK, STRF, STRD) to finance these buys, a strategy that analysts widely view as sustainable.

STRE Preferred Stock Structure

The new preferred stock, trading as STRE, is being offered with specific terms:

• Dividend: It carries a 10% annual cumulative dividend on the €100 stated amount, payable quarterly in cash starting December 31, 2025.
• Penalty Clause: A mechanism for compounding unpaid dividends exists, starting at 11% and increasing by 100 basis points per period up to a maximum of 18%, incentivizing timely payments.

This latest move reinforces Strategy’s commitment to using capital markets to continually increase its Bitcoin reserve.

November 2025, Cryptoniteuae