A new security, STRE, to attract European investors and finance the purchase of BTC Strategy continues to increase its exposure to Bitcoin, and this time it is targeting Europe. The company led by Michael Saylor has just raised €620 million through the issuance of perpetual preferred shares called Stream (STRE). This transaction marks a new […]
A new security, STRE, to attract European investors and finance the purchase of BTC
Strategy continues to increase its exposure to Bitcoin, and this time it is targeting Europe.
The company led by Michael Saylor has just raised €620 million through the issuance of perpetual preferred shares called Stream (STRE).
This transaction marks a new milestone: it is the first time the company has structured an offering in euros, aimed at qualified European investors and professional clients, to support its Bitcoin accumulation plan.
STRE securities were issued at a price of €80 per share, with a fixed annual dividend of 10%, calculated on a nominal value of €100.
In the event of late payment, penalties apply, with rates rising to as high as 18%. Investors have until November 13, 2025, to take a position.
Strategy is offering https://t.co/3qxQqxqxqx
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
Strategy is therefore adding another string to its bow with STRE. As a reminder, the company offers various types of securities:
- MSTR: the company’s common stock, offering direct exposure to its Bitcoin cash holdings;
- STRC: convertible bonds, used to raise funds while offering investors a future option to purchase shares;
- STRK: senior secured bonds, prioritized in the event of default;
- STRF: floating-rate bonds, used to adapt to market conditions;
- STRD: fixed-term debt, issued on a long-term basis, used to finance the ongoing purchase of BTC;
- And now STRE.
These instruments allow MicroStrategy to continue accumulating Bitcoin while attracting a broader investor base, from stocks to traditional or convertible bonds.
Strategy already holds 641,205 BTC, valued at over $65 billion at the current price of $105,000.
MSTR falls, Bitcoin rises: an uncertain but promising environment for BTC-related assets
Like BTC, MSTR stock is going through a difficult period. It has lost nearly 50% since July.
This decline is partly due to the narrowing gap between the company’s market valuation and the value of its Bitcoin reserves. In this context, preferred shares are becoming more attractive than common shares. If BTC continues to decline, MSTR shares could suffer massive sell-offs amid fears of a return to a bear market.
Despite this volatility, the arrival of European investors reflects growing international interest in Bitcoin. Bitcoin is gradually establishing itself as a protective asset against government interference and financial system instability.
With public debts such as France’s seemingly out of control, Bitcoin and its derivatives could attract a growing number of investors in the years to come.
