Catenaa, Sunday, November 09, 2025- Strategy plans to sell 3.5 million shares of euro-denominated perpetual preferred stock to fund future bitcoin acquisitions and general corporate operations, sources said late last week.
The proposed offering, designated as STRE shares, is subject to market conditions.
Each share carries a 10% annual cumulative dividend on the €100 stated value, payable quarterly from December 2025. Unpaid dividends will compound quarterly at 11%, rising to a ceiling of 18%.
The move marks Strategy’s latest effort to expand its bitcoin reserves, which rose Monday after the company disclosed a purchase of 397 bitcoin for about $45.6 million at an average price of $114,771 each.
The transaction lifted total holdings to 641,205 bitcoin.
Founded by Michael Saylor, Strategy pioneered the digital asset treasury model, using equity and debt offerings to finance large-scale cryptocurrency acquisitions.
The firm began this approach in 2020 with a $250 million bitcoin investment and has since relied on successive preferred-stock sales to support its accumulation strategy.
Analysts at Mizuho, TD Cowen and Benchmark said the firm’s slower third-quarter purchases appeared cyclical rather than a sign of reduced commitment, maintaining positive outlooks for 2026.
Strategy’s stock, traded under ticker MSTR, closed down 1.8% at $264.67 on Monday. Bitcoin slipped 2.6% to $106,865, according to The Block’s data.
