A new security, STRE, to attract European investors and finance BTC purchases. Strategy continues to increase its exposure to Bitcoin, and this time it’s setting its sights on Europe. The company led by Michael Saylor has just raised 620 million euros through an issuance of perpetual preferred shares called Stream (STRE). This transaction marks a new […]
A new security, the STRE, to attract European investors and finance BTC purchases
Strategy continues to increase its exposure to Bitcoin, and this time it’s targeting Europe.
The company led by Michael Saylor has just raised 620 million euros through an 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.
The STRE securities were issued at a price of 80 euros per share, with a fixed annual dividend of 10%, calculated on a par value of 100 euros. In the event of late payment, penalties apply, with a rate that can rise as high as 18%. Investors have until November 13, 2025, to place their orders.
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 thus adding another string to its bow with the STRE. As a reminder, the company offers various types of securities:
- MSTR: the company’s common stock, offering direct exposure to its Bitcoin cash reserves;
- STRC: convertible bonds, used to raise funds while offering investors a future option to purchase shares;
- STRK: senior secured bonds, which have priority in the event of default;
- STRF: floating-rate bonds, used to adapt to market conditions;
- STRD: fixed-maturity debt, issued on a long-term basis, used to finance the ongoing purchase of BTC;
- And now the STRE.
These instruments allow MicroStrategy to continue accumulating Bitcoin while attracting a broader investor base, from stocks to traditional or convertible bonds.
MicroStrategy 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 capitalization and the value of its Bitcoin reserves. In this context, preferred shares are becoming more attractive than common shares. If BTC continues to fall, MSTR shares could face massive sell-offs driven by 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 safe-haven asset against government interference and the instability of financial systems.
With public debt—such as France’s—seeming to be spiraling out of control, Bitcoin and its derivatives could attract a growing number of investors in the coming years.
