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2025-11-04 06:21:00
Crypto treasury company Strategy has filed for an initial public offering of a euro-denominated perpetual stock amid its ongoing strategy to accumulate Bitcoin.
Strategy said on Monday that it plans to offer 3.5 million shares of the stock under the ticker STRE, with the net proceeds from their sales being used to buy Bitcoin (BTC) and for general business purposes.
The stock provides a 10% yearly cumulative dividend on the stated amount of 100 euros ($115), paid quarterly starting on Dec. 31.
Strategy said that the STRE stock is only for “qualified investors” in the EU and UK, and the shares won’t be “offered, sold or otherwise made available to any retail investor” in those regions.
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
The company’s business model, implemented by founder Michael Saylor in mid-2020, has enabled it to issue shares and raise capital to purchase Bitcoin, which has helped it accumulate the largest amount of Bitcoin among publicly traded companies.
Strategy currently holds 641,205 BTC that it acquired for $47.49 billion, after announcing earlier on Monday that it purchased 397 Bitcoin to kick off November.
Strategy’s model has kicked off a whole sector of copycats that have raised billions of dollars in investor money to stockpile Bitcoin and other cryptocurrencies, including Ether (ETH).
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Saylor said on Thursday that Strategy is unlikely to change its model, telling investors on a call that “the focus is to sell digital credit, improve the balance sheet, buy Bitcoin and communicate that to the credit and the equity investors.”
Some analysts are concerned that the crypto treasury business model could collapse due to the number of entrants, and such companies will have to buy their rivals to stay competitive.
Saylor told investors that Strategy is unlikely to do that, and the company does not have plans to pursue mergers and acquisitions, “even if it would look to be potentially accretive.”
Strategy said that Barclays, Morgan Stanley, Moelis and TD Securities are some of the book-running managers for its latest share offering.
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