Strategy files euro-denominated IPO to raise funds for more Bitcoin. 3.5M shares under ticker STRE offered to EU and UK institutional investors.
Crypto-focused treasury firm Strategy has filed for an initial public offering of a euro-denominated perpetual preferred stock, aiming to secure fresh capital for more Bitcoin purchases. The company confirmed the offering on Monday, continuing a funding strategy it has used since 2020.
The offering will include 3.5 million shares under the ticker STRE, with net proceeds expected to go toward Bitcoin acquisitions and general corporate use. The shares will be offered only to qualified investors in the European Union and the United Kingdom, and will not be accessible to retail investors in those markets.
Meanwhile, the STRE stock carries a 10% annual cumulative dividend based on a 100-euro face value (around $115 USD). Dividends will be paid quarterly, beginning December 31. The company has positioned the stock to attract institutional interest, avoiding broader public distribution.
This approach aligns with Strategy’s funding model, where it raises capital through stock or debt offerings to expand its Bitcoin holdings. The method, in place since mid-2020, was introduced by Michael Saylor, who has led the company’s shift toward becoming a Bitcoin-focused treasury entity.
Bitcoin Holdings and Market Activity
Strategy currently holds 641,205 BTC, purchased at a combined cost of $47.49 billion, according to recent filings. On Monday, the company disclosed the acquisition of 397 additional Bitcoin, continuing its pattern of regular buying activity. These holdings make Strategy the largest corporate holder of Bitcoin among publicly traded firms.
The company’s model has influenced a growing number of businesses that have adopted similar strategies, issuing shares or bonds to accumulate cryptocurrencies such as Bitcoin and Ether. These firms now represent a distinct segment within the digital asset sector, targeting long-term reserves over short-term trading.
Speaking to investors last week, Michael Saylor reaffirmed the company’s focus on raising capital to expand its Bitcoin reserves.
“The focus is to sell digital credit, improve the balance sheet, buy Bitcoin and communicate that to the credit and the equity investors,” he said.
He also dismissed the idea of pursuing mergers or acquisitions, even if such moves might appear beneficial.
“We are not planning to pursue M&A,” Saylor added.
His comments come as analysts question how many firms in the crypto treasury space can remain competitive without consolidation.
Banks Managing the Offering
Moreover, Barclays, Morgan Stanley, Moelis, and TD Securities are listed as bookrunners for the share sale. These institutions will manage the placement of the STRE stock with institutional buyers across Europe and the UK.
The move adds to Strategy’s ongoing use of traditional financial tools to scale its exposure to Bitcoin while keeping its structure focused on a single reserve asset.
