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