Last updated on January 3rd, 2026 at 11:51 am
Quick Breakdown
- Strategy files for a euro-denominated perpetual stock IPO (STRE) offering 10% annual dividends.
- Proceeds will fund further Bitcoin acquisitions and general business growth.
- Access restricted to qualified EU and UK investors; no retail participation allowed.
Strategy unveils euro-based perpetual stock plan
Crypto treasury firm Strategy has announced plans to go public with a euro-denominated perpetual stock offering, signaling another bold step in its ongoing push to expand its Bitcoin reserves.
Strategy is offering $STRE (“Stream”), our first ever Euro-Denominated Perpetual Preferred Stock, to European and global institutional investors. $MSTR pic.twitter.com/tCectc2uA2
— Michael Saylor (@saylor) November 3, 2025
According to the Monday filing, the company intends to issue 3.5 million shares under the ticker STRE, with proceeds allocated to Bitcoin (BTC) purchases and other corporate purposes. Each share, valued at €100 ($115), carries a 10% cumulative annual dividend, to be paid quarterly starting December 31.
Limited to qualified investors in the EU and UK
Strategy emphasized that the STRE stock will be available exclusively to qualified investors within the European Union and the United Kingdom. The shares will not be offered or sold to retail investors in these regions.
This structure reflects the company’s continued alignment with institutional investors, a model inspired by founder Michael Saylor’s 2020 pivot toward using capital markets to fuel Bitcoin accumulation.
Strengthening Bitcoin holdings and staying independent
As of early November, Strategy reported holding 641,205 BTC—acquired for $47.49 billion—after adding 397 BTC to its balance sheet this month. Saylor reaffirmed the company’s strategy during a recent investor call, stating “The focus is to sell digital credit, improve the balance sheet, buy Bitcoin, and communicate that to investors.”
While analysts warn that growing competition among crypto treasury firms could force industry consolidation, Saylor made it clear that Strategy has no plans for mergers or acquisitions, even if such moves appear financially attractive.
The company has appointed Barclays, Morgan Stanley, Moelis, and TD Securities as book-running managers for the offering.
In a recent development, the S&P Global Ratings assigned a “B-” credit rating to Strategy, categorizing it within the speculative, non-investment-grade tier commonly known as the junk bond range. Despite the low rating, the agency maintained a stable outlook for the company.
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